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EURUSD Bullish move triggered by Germany Factory Orders

EURUSD Bullish move triggered by Germany Factory Orders

Germany: Factory orders to rise by 1.1% in May.

Shortterm bullish move triggered by the data and the pair broke above 1.16800.

H4 Chart Timeframe: Pair jumped above MA 200. The next target is 1.17200.

Today US ISM Non-Manufacturing PMI will be announced. EURUSD is likely to test 1.17200 until the US data. A negative US Data may lead the price 1.17800, This level will be our short entry point, confirmed by both Daily EMA 50 and Bearish Gartley harmonic pattern.

A negative US PMI of today will push the pair back below 1.16800. We will look for a short opportunity at 1.17200 based on Bearish Butterfly and EMA 200 resistance.

We will publish our fresh trade idea for premium members. Right now, we focus on 1.17200.

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DISCLAIMER: This is a technical analysis study, not an advice or recommendation to invest money

 

 

EURUSD:   Forex Trading involves risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. Chartreaderpro does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

 

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