EURUSD – Short Trade Profits, Bulls in The Green
We suggested in our weekly market commentary a short trade at the yearly resistance for a quick intra-day move, taking profit just above 1.3820. That trade worked out. For bulls, we also suggested getting long above 1.3820, which the pair touched just above today, and is now up +43 pips, so both sides making money here.
The intra-day bounce off the former range high suggests the pair will re-attack 1.3900 and likely try to break it within the next 24-48 hours. If this level caves, then expect the ‘big figure’ at 1.4000 to be up next. Traders not yet long can look for a corrective pullback into 1.3820/30, targeting 1.3890 and …... Keep reading