EURUSD initially fell last week and then rallied to the upside in a massive bullish candle on Friday due to the weakness in the US Dollar due to the trade war situation. Therefore we will now consider the previous consolidation zone as support.
Pull backs towards the support zone will be considered as long opportunities, unless things change fundamentally. Therefore, our idea is to go long if a supportive candle is formed after correction towards the support. The pair can even rally without such a pull back if USD further weakens.
Disclaimer: Our analysis and forecasts given on this website are just our point of view about the market. It is not a trading signal or investment advice.