Also Wednesday has been a profitable trading day since we were able to book two times a small profit with our buy order at 1.1135 in the EUR/USD and a bigger profit of 100 points with a second sell attempt in the DAX at 14710.
The EUR/USD heads for 1.12 amid the U.S. dollar’s retreat. We expect a higher resistance to come in at around 1.1220 from where we may see a correction. A higher support is now seen at 1.10.
GBP/USD: Above 1.3210, we may see a test of 1.3250. Further above 1.3270, a next target could be at 1.3350. A crucial support is however seen at 1.30.
Today we will keep tabs on the PCE price index at 12:30 UTC. A higher reading could help the struggling U.S. dollar.
Disclaimer: All trading ideas and expressions of opinion made in the articles are the personal opinion and assumption of MaiMarFX traders. They are not meant to be a solicitation or recommendation to buy or sell a specific financial instrument.
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Long @ 1.1175
Short @ 1.1130
Long @ 1.3160
Short @ 1.3125
Long @ 14670 Trade has hit profit target
Short @ 14620*
We wish you good trades!
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