Every where I look I see analysis that say the long term EURUSD is going to hit a resistance at around 1.4860 and then turn down. It is indeed testing this level now but I just don't see it turn down.
1) This resistance level is minor compared to longer levels, such as 1.4535, which the EUR broke through and looks to be well on it's way to staying above.
2) The USD is not going to become strong enough anytime soon to push the EUR back down.
From what I see, the EURUSD is going to continue in it's uptrend and test the 1.5200 level and may even go as high as 1.5400.
What's everyone else think?
BTW, I am long, bought at 1.4682 with an target of 1.5200. It has gone up over 100 pips so I moved my stop and am in a free trade now
1) This resistance level is minor compared to longer levels, such as 1.4535, which the EUR broke through and looks to be well on it's way to staying above.
2) The USD is not going to become strong enough anytime soon to push the EUR back down.
From what I see, the EURUSD is going to continue in it's uptrend and test the 1.5200 level and may even go as high as 1.5400.
What's everyone else think?
BTW, I am long, bought at 1.4682 with an target of 1.5200. It has gone up over 100 pips so I moved my stop and am in a free trade now