Last week was calm as not many fundamentals took place. The most important event was FOMC minutes. As you all already understood Fed officials are unsure what rate hikes needed this year. So, they will keep and eye on the data and take decisions accordingly. That is what we have to do too.
And as always US/China deal is the main mystery and risk for all markets. Watch it! As I mentioned in my previous EUR/USD analysis, we are in a consolidation phase.
I expect this to continue to finish corrective wave near 1.14200 – 1.14500. So, look for rejection before going short. My targets 1.11600, 1.11200. And then I will reverse to long for a long term run. You know I am a big fan of such moves, because they give the opportunity to use pyramiding. It’s very effective strategy, that helps to grow account with the smallest risk. Lots of pips ahead ))
Have a profitable week!
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