On the hourly chart on Last Friday, the Bias is positive, please refer to attachment 1.And the pivot point R2 is near 1.2760, that is near its 55D EMA.,You may countercheck the Euro/Usd CHARTS for 5M , 10M,, 15M, 1H,4H, 6H, ,(plus RSI,MACD,STOCHASTIC and CCI ),,The Charts showed POSITIVE BIAS toward the end of the market closing on Friday.(may look like on short term basis)
The proposed Trade Set-up will be:-
Buy long Euro/Usd at 1.2765
Cut loss at 1.2725
Limit: 100 pips
Note: This set up is trying to capture the Short term corrective bounce.. You may use Trailing Stops to protect your profits in the process.
Attachment 1:
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