Euro/dollar
Euro/dollar exploded to a new record high on Wednesday. To repeat, I still like long positions in line with my model, long since February 14 – only a break below 1.5230 would change that. The pair is certainly overbought, but only short-term weakness is possible.
Immediate support is at 1.5535. The next level is at 1.5490. Below 1.5415, there is further support at 1.5350.
Initial resistance is at 1.5590. Further resistance comes at 1.5660. The next level is now seen at 1.5760.
Oscillators are rising.
NEAR-TERM: Mixed
MEDIUM-TERM: Bullish
LONG-TERM: Bullish
Recommended Trading TodayBuy at level 15540 SL 15510 and TP 15580
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