Last week I talked about entries on many USD pairs and we reached good entry zones on all. On EU, we reached entry zone 2, didn’t make it all the way up to the 3rd, which is above 2220. Next week is FED week, so I hope we get better volatility than during ECB, which only gave us a pathetic 30 pips range to work with. EU can still go a bit higher before wednesday, but I wouldn’t go long below 2200, anyway. The main reason for it is the dollar chart and a similar patterns and price action as we saw at 100, actually, the bottoming around 90 seems even stronger to me than the topping that occurred around 100. Even though its hard to predict months or even years into the future, looking at the chart, we might be at a point of very good long term entries. On the daily chart, bulls are getting really angry, just from watching the PA, so if it starts going up, it might be strong, fast and without corrections!
p.s. I only added the monthly chart to piss off dollar bears a little. 😉
