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EUR/USD WHERE’S NEXT MOVE? 11/04/2021

EUR/USD WHERE’S NEXT MOVE?

We have had a huge bullish week for EURUSD after a couple of weeks.  Last week candlestick ended as a bullish engulfing candlestick and also as a morning star formation which is a sign of bullishness over the market. It means that investors believed that it’s time for the euro to go up against the dollar on the last week. The German Bank put billions

Anyway, our last post about EUR/USD went perfectly. Our setup has been completed and our take profit areas have been hit even.

For this week, we have covered what we expect from The Dollar Index and, it affects EURUSD too. On the chart attached to this post, we drew our important areas to predict what will happen with these pairs if one or another line breaks.

If we come up to 1.19200-300 to re-test these areas it means that DXY will come to 92.00 to re-test the last lower low. If we have rejections to highs of 1.9200 it means that DXY is rejecting 92.00.

These rejections at 1.19200 will let me take shorts on EURUSD with first take profit of 1.18600(70 Pips move)

If we have a break of 1.19200 and re-test of this area, I will take longs with the first take profit area 1.18600 and with a great potential to go lower to 1.18300-1.1800.  It means that DXY is rejection 0.9200 and it decides to go higher to 92.400 or ever break at 0.92500 and go higher.

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