EURUSD ahead of another significant level
During the day EURUSD along with GBPUSD continued its uptrend. In previous entries I described the possibility of EU to decline in the rande of 1.353-1343, as the upside move between 5-8 March had 3-wave pattern, and the continuation of correction was more likely.
But the bullish momentum turned out to be rather strong, and now EURUSD is just a few pips before it’s significant level 1.3738, that was a peak for the pair since 3rd March. The possibility of retracement is still actual, it’s also confirmed by Stochastic indicator parameter @1 Hour chart. SL is very tight, so small volumed sell orders could be tried.
If the 1.3738 is finally broken, we’ll check the wave scenario for EU and wait for the forming of 5-wave formation.
The chart is attached.
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