The Yen has been going through a rough morning on market opening this morning, as the account balance disappointed investors heavily, and this was followed up by a shocking economic sentiment survey which showed a significant drop over the last month. Markets are now moving against the Yen and the dollar looks to be the best candidate.
EURUSD is holding below the 1.37730 support, now made to be resistance. It seems like it will bounce the Dynamic support within this week. Alternatively, if this Dynamic Bullish support is broken we will go short with all we’ve got.
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As per my previous evaluation, that resistance level was penetrated. Please sign up to my news-letter (top right, blue box) to know the rest of my trades in advance.
As a first trade, I believe that EURUSD will be bullish as we have seen the below dynamic support, with support levels being 1.38190, 1.37320 and 1.36670. Resistance levels are visible at 1.39000 and a strong resistance ahead at 1.39310. The most likely scenario, in my view will be that the 1.38190 support (no resistance) level will be penetrated and the price will look to reach 1.38500 and above.
Show me the rest, Johnny.