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Feb 25

The Trading Strategy of EURUSD is to use long positions again

EURUSD to test the record levels since the beginning of January 2021 at 1.2349. The test of the highest level this year and at all since April 2018 is on the way to happen next week. 
Few hours earlier we saw very good economic news for the United States but nevertheless these news did not support the Dollar. The positive report for Durable Goods orders from 1.2% to 3.4% was not accepted by the investors and even the good decline of Initial Jobless Claims to 730K from 841K. 
Till the end of the week we do not expect key fundamental reports. Next week on Friday we can see the key U.S. Non-farm report as the expectations are to see a report at 110K from 49K prior month.
The trading strategy of is to trade into long positions. After a short correction down to 1.2150/60 we expect to see a test of 1.2349 and probably break above towards 1.24.


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