EURUSD Forecast and Trade Idea :
The ” case ” between North Korea and US has been causing a lot of changes in the market dynamics over the past few days. Oil Prices falls , GOLD ( as predicted ) moves up etc.
As the US Dollar is indecisive about the direction it wants to go , EURUSD pair hold steady with bulish undertone. Last few days we saw some attempts ( and we entered a short trade targeting 1.17000 ) to make a break through 1.17000 – 1.69500 region but price bounced back strongly.
Now we will look at EURUSD with Murrey Math Lines .
EURUSD H4 CHART :
Price reached to Major Pivot Reverse 1.17800 and is above the MA 50 . 1.18100 and 1.18400 are the resistance levels for intraday trading.
On D1 chart of EURUSD 1.18400 is also a major resistance level. It is possible the EURUSD to test 1.18400 today .
Our Trade For Today :
Long @ 1.17700
TP1 : 1.18100
TP2 : 1.18400