It seems that the Euro is preparing for another push up before the Non Farm Payrolls this Friday. There is a nice opportunity forming in the short-mid term. Here is how we can join this potential bullish move.
Technical Overview:
D1: 20+ candles ride on the bollinger bands. Now we can expect the price to reach the opposite band. At the same time we are following the bearish hidden divergence that is being formed at the moment.
H1: Double wave correction, up trend line, hidden bullish divergence
Entry:
H1: Wait for the double wave correction to complete around the support zone 1.1420 – 1.1410 which is our BUY range. You can enter upon reaching the levels or alternatively wait for bullish candle pattern inside the range zone to trigger the buy order. Protection below the up trend line.
Target 1: 1.1525
Target 2: 1.1620
Stop Loss: below the trend line
Video Explanation
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