Is Euro gaining momentum?

2 March, 2017

Is Euro gaining momentum?

EUR/USD

As for the Euro, we have pulled away from a strong level of 1.0522 forming a bearish trap. We have also formed a bullish engulfing in the 4-hour chart, therefore we should try to buy the asset away from the middle point of this engulfing, starting from the level of 1.0545. Our first goal is at the level of 1.0660

XAU/USD

Looking at the daily chart, we can see that the price moved back to the broken level of 1241 and is trying to form a hammer

The only suspicious thing in this picture is the 50% Fibonacci level. Although, the closure is above the level of 1249.00, which gives it a green light for buying gold and possible growth to the level of 1300.00.


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