I am not going to count out the USD just yet this week. The EUR/USD price had been working its way to the most recent previous high since last week. Today, I am looking at another attempt by USD to regain last week’s lost ground. The price in the EUR/USD H4 chart shows a start of the move towards USD territory.
Both the M15 & more importantly the H1 chart has shown optimal entry for a USD bias prospect. Having said that, I think I shall wait to see a few more H4 ticks progress before deciding to exchange some USD into local MYR currency this week. A price retrace towards the blue trend line will certainly postpone my transaction. Details to observe - Stop loss: 1.3579 / Target 1: 1.3455 / Target 2: 1.3360
Disclaimer: Trading in the FOREX market & other forms of investments involves risk. This information should not AT ALL be viewed as investment recommendations. The charts & information provided here are not meant for investment purposes & only serve as technical examples.
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