In our previous contribution about the Euro we mentioned the EURUSD was going down, at least to the main support zone located around 1.3868. Now that the market reached that level, the market is telling us that it wants to go up again, please take a look at the next chart:
Now that the EURUSD is trading just above all important levels, it should reach the next long term resistance level located at 1.4326.
So our Simple Trading Plan for the EURUSD is:
Just look for long opportunities in the short term charts (and ignore all short signals), as we said, all take profit orders will be placed just below the main resistance level located at 1.4326.