Hi all,
Iris, thanks for the credits
Current levels and timing are very critical for EUR. The last few weeks of consolidation above the channel’s bottom has very much heightened the risk of a break, …which is needed conformation for the change in major trend (Almost all major trends break their initially formed channel, if one). However, on the other side, given the possibility of large profit takings at channel’s bottom combined with the recent major shift from EUR to USD bias, we may see “Big boys” swing this pair up for a test of the 1.27 handle.
Long at 1.2470. Possible SAR on a break of 1.2440 or a test from down under.
Regards