EUR/USD Update, Tue 27, July
Good morning,
Yesterday we've recieved another MACDP Failure day at daily chart, and my thoughts about daily still intact - I expect move to XOP at 1.3133 area. Possibly it can happen via one strong daily bar - we'll have a GDP release on this week...
On the lower time frame (today it's hourly) market has reached and OP=1.3017 area and can make a pullback. I do not expect that it will be deep. 1.2950 level should hold. At the same time just below it 1.2932-1.2938 hourly confluence support. If you're Bullish - watch for this area, possibly oportunity to enter long will appear there.
That's being said, I'm bullish right now and expect that XOP will be reached. If you've missed the enter at weekly Pivot at 1.2890 - possibly there will be another chance somewhere in 1.2932-1.2950 area.