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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