Since the second last week of April, the Euro has been in a bullish trend. While it has crossed over my moving average setup, which is the first indication of a trade change, it currently rests on this bullish trendline.
Furthermore, I have plotted three potential demand zones if this pair breaks through the trend line. It has experienced quite some massive purchasing due to a string of fundamental releases. As the U.S. economy stalls on recovery, these zones may present the perfect buying opportunity.
Currently, there isn’t much activity going on in this pair. After all it is the New York session, which I am not a fan of trading.