Bullish on EURUSD to 1.38 (29 Jan 2014)

By | January 29, 2014

I’m bullish on EURUSD.

We first look at the daily:

  1. Price tested 1.38 and failed during the week of 20 Dec 2013. Is this a reversal or retracement?
  2. Formed an ABC pull back over the course of the next two weeks. This confirms it is a retracement.
  3. Extremely bullish candle formed on 23 Jan 2014, confirming the retracement is over.
  4. We now zoom into the 15m chart to look for bullish candles and higher lows.

EURUSD daily

  1. We found two bullish candles in 15m and higher lows. Time to buy.

Eurusd daily

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