Just like the dollar, EURUSD is in the midst of completing its 5th motive wave of a 9-month Elliott wave.
The euro weakened a little and consolidated just before the ECB announced increased bond purchases.
Upon the announcement, EURUSD gained on selling expectation and buying the fact.
It managed to stay afloat just before the week ended, thus we can assume that EURUSD hasn't finished its bullish momentum.
Simply long EURUSD as it pulls back to the lower band, or within the price range of 1.21 - 1.2050.
P.S. On a side note, we do not presume that EURUSD will definitely climb in the coming 2 weeks. Do decide on where to cut your losses should things go south and be flexible enough to change your trading plan.
The euro weakened a little and consolidated just before the ECB announced increased bond purchases.
Upon the announcement, EURUSD gained on selling expectation and buying the fact.
It managed to stay afloat just before the week ended, thus we can assume that EURUSD hasn't finished its bullish momentum.
Simply long EURUSD as it pulls back to the lower band, or within the price range of 1.21 - 1.2050.
P.S. On a side note, we do not presume that EURUSD will definitely climb in the coming 2 weeks. Do decide on where to cut your losses should things go south and be flexible enough to change your trading plan.
