EURUSD – Takes Out Role Reversal Level, ST Bullish | Jun 2

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EURUSD – Breaks RRL, ST & MT Bullish (4hr chart)
Surging almost 3 handles on the day, the Euro started an intra-day impulsive bull run around the mid-1.09’s that didn’t stop till just shy of 1.12, taking out the role reversal level at 1.1070. The largest 4hr bar was the last bull bar on the day and I’m guessing many medium term bears¬†had their stops punched (mine included).

For now, this makes the ST (& MT bias IMO) bullish while above 1.1050/70 on a daily closing basis. I’ll be looking for weak pullbacks into support to get long around there targeting 1.1260.

eurusd

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