The MACD has shown trend continuation divergence (A.K.A "Hidden Divergence"). After the price action found footing at that pivotal zone (1.0550 - 1.0600), the Bulls appear to be gaining some strength.
We have a strong gap to fill around 1.0640 but we'll have to see what happens during CPI numbers tomorrow morning.
Based off of the longer term time frames, EUR/USD could see a run towards 1.1100+ as long as we do not trade back below 1.06000.
If EUR/USD is pushed back down below 1.0600, the trade idea is invalidated.
We have a strong gap to fill around 1.0640 but we'll have to see what happens during CPI numbers tomorrow morning.
Based off of the longer term time frames, EUR/USD could see a run towards 1.1100+ as long as we do not trade back below 1.06000.
If EUR/USD is pushed back down below 1.0600, the trade idea is invalidated.
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After this mornings turmoil in the markets involving Credit Suisse, EUR/USD mad a powerful turnaround, falling about 2% in early trading. A very powerful move by the bears. The long Idea has been invalidated as we have been pushed back down towards the pivotal zone and under 1.0600.
