Mihai_Iacob

EurUsd- Top in place and final of correction?

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FX:EURUSD   Euro / Dólar Americano
Since the low from September at 0.95, EurUsd had a pretty good run, with the pair gaining 1k pips which translates into 10%.
However, as I draw attention in my past posts, this is a correction to the overall trend with both technicals and macro fundamentals still intact and not sustaining a strong Eur in the near future.
The recent top was very near a very strong and important resistance that lies between 1.07 and 1.08 and although we didn't touch that zone, the pair could have topped.
At the time of writing EurUsd is trading exactly on support and a break here would confirm a false up break of the triangle and call for further losses.
Considering the 1.06 top, traders should look to sell rallies in search of good R: R considering 1.0250 as the target.



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