Euro Technical Outlook

Now that the EURUSD has broken through 1.5586 and confirmed our bullish bias, we can focus on bullish potential.

The advance from 1.5283 is probably either the beginning of a 5 wave bull cycle or a B wave of a flat or triangle. In all cases, the EURUSD is expected to exceed 1.5843. Near term resistance is at 1.5650 (6/10 high). We’ll look to add to longs next week. Risk can be moved to 1.5464.
Visit our recently updated Euro Currency Room for specific resources geared towards this currency.

STRATEGY: Bullish, against 1.5464, target above 1.5843