Looking to re-buy euro towards 1.07227
01 December 2016, EUR/USD
Unfortunately our stops got taken out when Euro went below 1.06099. This pair traded massively short but could not go beyond the lower trend line, If the current green-bar, on the 4H chart, can close perfectly the way it is, then we've got the green light to re-buy this pair towards 1.07227, otherwise, any clear breakout below the lower trend line is likely to culminate into a possible bearish price movements towards 1.05275 or even lower. As long as the immediate supportive trend line prevents any invasion to the lower side, we expect a possible bullish price action. Expect a similar price action in GBP/USD and EUR/HKD. These pairs will have a similar price action during this intraday.
As long as the lower trend line prevents any movements to the lower side, expect a possible bullish price action towards 1.07227. Sell positions are only recommended upon a clear breakout below 1.05857.
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