EURUSD: Further upside is likely?
|EURUSD still consolidated in the triangle.
On daily chart, we see a textbook 5 wave up from December 2016.
The price also continuous closed above daily Ichimoku cloud.
Near term overshoot to 1.2456/1.2500 could not be ruled out.
But weekly long term downtrend line is just ahead.
Unless we see a clear close above 1.2596/1.2650, upside should be limited from current level.
If today close below 1.2347, that will be the first pullback sign.
We still look to trade short term extremes and wait for directional opportunities.
EURUSD Trade Idea:
Sell limit @ 1.2424 stop 1.2461 for 1.2359
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