The EURUSD moved higher today as equity strength continued to weigh on the DXY. With EURUSD momentum clearly up today, an entry long was taken risking 16 pips for a potential 32 pips to our daily target at 1.0996.
If the EURUSD can close above the important 1.1000 figure and more specifically above 1.1020 then there is potential for a move up to test the 1.1145 high from March 27th.
As much as I dislike currently trading it long, if the USD is weak and the market sentiment is risk on… it can move higher.
The 1.1000/1.1020 area will be closely watched.
Good luck with your trading!