Hello Price Action Traders.
The forex pair gained almost 1.00 % compared to last week’s closing and this triggered some stop loss including mine, since I had sold the euro on the dollar when one of my trading signals showed up last week. Keeping above 1.3250 we are faced with the possibility to see price close to 1.3400, important resistance level. Price also shows a clear LONG trading signal that confirms this analysis: an obvious bullish PIN BAR is now rejecting low prices. Rupture of 1.3455 it would be the sign for rallies toward 1.3650.
The pair last week scored a new high at 0.9350. If you like price action daily trading you can wait for the next trading days if price will pullback towards 0.9200 area because this zone could be taken as a great place to buy Australian dollars vs Us Dollars. Obviously I will have to have one of my trading signals to confirm this view. Next resistance is at 0.9650.
It’s all for today!
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