Near Term Trend: Bullish for a bounce
As of 7/13/2018 close: 1.16845
UPDATE: Last week, I suggested buying the EURUSD cross at 1.1684 with stops below 1.1620 and with a target of 1.1847.
Last week, EURUSD rebounded late in the week. But, that was not before it crossed below what should have been support for the bulls. The chart to the left shows that it is possible that EURUSD has peaked at 1.17664 Fibonacci projection resistance.
Id be shorting bounces to 1.17148 with stops above 1.17292 and with a downside target of 1.155 initially.