There was not a lot of economic news today to drive the majors, but the continued USD weakness as the month of July comes to an end allowed the EURUSD to make another thrust higher. The pair has moved very bullishly, taking out its August monthly high from 2015. It has also closed above a very significant level on the weekly chart.
We entered long early in the U.S. session with a 16 pip stop loss for a potential 81 pips to our daily target at 1.1820. As price moved up and stalled at the important weekly level, it appeared to be reversing and we closed the trade, just before price jumped another 40 plus pips.
Be cautious around the Manufacturing PMI releases for both Britain and the U.S. on Tuesday.
Good luck with your trading!