Good Morning Traders,
I am not sure how much further the EUR/USD has to go, but for the time being the pair remains in it's bullish channel. The short-term upside target is limited, but there is evidence that we could see this approach 1.38. For the time being, I am keeping this an intra day trade, and so stay tuned by following me on twitter to get immediate updates if I feel we need to tweek things as things develop.
At the moment, I am looking for the price to come to me at 1.345, putting a stoploss at 1.3405, and a take profit order at 1.35. If it's looking good, I may adjust the stops to break even at that level and see where the trade takes me. Keep posted.
(Trade C045AS)
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From the Desk of
Aaron Reid
Forex Strategist
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