EUR/USD has FINALLY made a weekly break and close above the major monthly level of 1.1450!
Furthermore, if you look at the image below – we can see the monthly E.M.As have just crossed. We have 6 more trading days until the end of the monthly candle, a bullish close will see this pair up to 1.2000 (a major psychological barrier).
Zooming into this pair for a more intra-day perspective, we can see that P.A is printing Higher Highs and Higher Lows in perfect fashion. The ideal setup which I’ll be searching for in the coming week will be a valid reversal from a Fibonacci retracement level along with my execution confirmation signals.
Be very careful on Wednesday afternoon, I wouldn’t recommend entering a position on the majors until the evening. From 3:00PM until 7:00PM GMT, its expected that there will be some big moves across the board, as a result of the following fundemental releases:
Have a great week everyone!