Looking at the EUR/USD 4-hour chart there definitely looks
like a strong uptrend going on!
If I zoom into the 1-hour chart, we see the yellow trendline
and the 100 SMA(pink line) are coming close to the level 1.3930.
Here’s what I think; 1.3930 looks like a strong technical
level that if broken could push EUR/USD lower or could become a strong support
level.
I’m going to watch this level, if spot comes close to this
level but a candle closes above it, I’ll buy EUR/USD. If a candle closes below
this level I’d look to sell here.
Looking at the GBP/USD 4-hour chart we can see an upward
channel holding up. Spot looks as though it’s coming close to the lower channel
levels.
When I zoom into the 1-hour chart, 1.6147 looks like a
support level to watch out for, and spot seems to be running lower at the
moment so let’s see if this level gets supported.
Happy Trading!
FxTaurian
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