EUR/USD looks ready for a minor bullish move

EURUSD D1 (03-02-2016 1839).png

  • Oil prices are down and EUR/USD is finding support at 61.8% fibo at 1.0845
  • we also have a bullish RSI divergence on the intraday charts

Hence, I wouldn’t hesitate to add a long trade here with stops just below 1.0845 and for a target of 1.0930 levels.

The ADP report is usually ignored when it is weaker than expected, but gives a USD a positive rub off when it beats estimates. So that is a risk to the long trade, but am willing to go the distance on this one.

 

 

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