We expect euro to move up towards 1.14 | 07 September 2015

The daily chart: So, there are good preconditions for the end of the downward swing - an inside bull bar. The prospect of medium-term growth of the euro in the new rising swing is more than 600 points (aiming to break the last top 1.1711), whereas Stop ps about 150 claims (under the last bottom 1.1017). Classical swing trading, you can go up immediately after opening of markets. However, on the H1 chart you can certainly find more verified entry points.

H1 chart: as we see, a daily IB was built as part of the local double bottom, which gives a strong reversal signals. It is better to enter up after the descending local downward swing.

Scenarios: expect euro to move up towards 1.14

Solutions: Purchases should be done either from the market or after a downward swing on H1. Targets - 1.14 and 1.1750 (Medium term)