Daily Strategy - EURUSD may up above 1.2340
|EURUSD (1.2322)
Trend: Neutral/Upward
Support/Resistance: 1.2205 - 1.2340
If you follow our forecast for EURUSD from the first business day of this week you know that we expected consolidation at the current level. The dollar gains for the last 6-days are over. The consolidation process may end if we see levels above 1.2340. The fundamental events today are not important for the traders and probably the trading will continue to use technical analysis with the process of consolidation or movement up.
World-Signals.com trading strategy is to use the key support/resistance levels and use neutral direction in trading or to ready for long positions. If EURUSD breaks above 1.2340 the recovery of the Euro may restart.
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