Vladimir Ribakov says EUR/USD has hugged its upper Bollinger Band for over 20 candles, a setup that typically triggers pullbacks. He's watching for either a dip to buy toward 1.18-1.20, or a continued push higher to short on retracements.
Euro dollar, which got the boost on the last week. And the biggest question is what's coming next. So while the longer term to me personally at the moment remains a little bit unclear, but with some probability to see the euro dollar actually climbing again with the next highs and maybe even reaching the 125 for the long run. But on the shorter run, I definitely see Um, let's say some rejections coming on the euro. So what do we have here right now? We start to see the upper Bollinger Band, uh, for more than 20 candles we are climbing up without significant retraces. Usually you know what it means, like here it brings some pressure to the downside. So I definitely believe we will see the pullbacks, but is that over? So as long as these levels hold, I believe the euro will have hard time Around these levels, we should see these bounces. But as the bounces take place, I am after buying the dips here. I really, for now, at the moment, unless anything changes dramatically, I don't see a different outcome. So from my point of view, that's the 2 scenarios I'm looking to get involved. If it climbs first, I'll be looking to sell for these retraces. If we do get this bounce here back to this zone, I am after the buys, expecting it to climb, uh, all the way to above 118, 120, maybe even beyond. So for me, this is the trading plan on the euro dollar, as simple as it can get.
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