As the EURUSD closed above 1.1335 today, a long was taken requiring an 8 pip stop loss for a potential 38 pips to our daily target at 1.1375.
The first area to get through was the 1.1350 level which price did with ease as the USD exchange rate weakened amongst the major currencies.
The next upside level to test was Friday’s high at approximately 1.1364 and price struggled to move higher… as we approached the U.K. close today. As price came back to retest this level our trade was closed.
Core CPI releases tomorrow for the U.S. will be closely watched.
Good luck with your trading!
