- Why EUR strengthen
- View On Technical Levels of EURUSD
EURUSD after breaking its fresh highs above 1.2150 currently trading at 1.2200 levels.lets see what would happen next to EURUSD in terms of technical language what most of the traders believe.
Technical View: I have added major Monthly time frame here in EURUSD because on lower time frames i can not see clear targets in case of EURUSD .I remember I posted last EURUSD swing trade for 1000 pips while it was near 1.0400 levels.Now i could see same opportunity and a good swing entry for another 1500 pips.
In this article I will only discuss about technical levels in EURUSD . But as to comment shortly on fundamentals I will focus on few points below
- EURO enjoying from the Brexit negotiations,EURO enjoying Smooth monetary policy and controlled economy.
- EURO also enjoying weak dollars after taxation reforms from US government and Balance sheet shrinking from federal reserve despite increase in Interest rates.
- EURO also gaining from Business Collaboration in Britan. As we seen last rally was aggressive from its dip of approx 1.1900 levels.
Well these Points on this short article looks great to me to go bullish on euro.
Now below let’s have look on some technical levels
The chart below having time frame of monthly,most of the small Time Frames would not like this to see straight monthly chart, but there is reason for that to go long by looking at monthly time frames, as we are looking at below chart.
In the chart above I applied Supply demand levels. Which you could see above 1.2150 zone there was highs and rejections .but the aggressive buying above this confirms the break in consolidation.
So after having break on this i could not seen any of the major resistance if we counting on monthly .so in this trend we should take our nice entry of course with stop loss and could the trades as long it will enjoy the fresh air upside,
Important Levels you should watch in Grey area below which it looks hard to go but if goes then we should consider reversal because ,there is another possibility of cycle factor in here where there is cycle ends near 1.2600 levels,I have not market it but consider it as a case. If this rested upside it would be awesome to stay longs for the bulls.