More Euro Strength? - EUR/USD Ichimoku Trade Setup

2 ก.พ. 2020

The Euro ended last week gaining some strength against the dollar.

I see this pair as a couple of possible buy opportunities right now.

The first way this could play out is how I've drawn it.

We've pushed up and are now challenging kumo resistance.

If we can break that and continue to hold support we could climb higher to test previous price structure resistance.

I've drawn out a medium term target as well as some partial profit targets to aim for along the way.

The second way this could play out is a major drawback here to try and test support around 1.1055 where we've formed a flat kumo level.

If we get that drawback then we'll look for that support level to hold and a chance to get long there.

If these scenarios fail to play out, or if our bullish confirmations change, this setup may become invalidated.