After a strong bounce from 1.0800 the EURUSD is still bought on dips. The lack of important data today and US bank holiday will probably keep the pair within the range, but it will also give us the opportunity to long on dips.
Technically POC comes within 1.0870-80 (L3, X cross.T-89 pattern) and it is also supported by a hidden bullish divergence. Hidden divergence is a trend continuation type of divergence and in this case it supports the bounces off the support. Adding to that we can see the Ascending scallop pattern right off the trend line.
However, the pair needs to stay above 1.0800 and only below 1.0800 we will see stop grabbing towards 1.0740 zone.
The analysis and the article presents Nenad's opinion. Remember, financial trading is highly speculative & may lead to the loss of your funds. Proper risk management is the Holy Grail of trading.
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