July 17, 2018 08:28: European dollar trade strategy [From Tetsu Emori's newsletter]

From the real trading strategy newsletter “Tetsu Emori's Real Trading Strategy” by Tetsu Emori, provided by GogoJungle, here is a small excerpt from this morning's distribution. This time, please look at the euro/dollar trading strategy that has risen to around $1.17 and is still on an upward trend.

The euro/dollar is a new long. It held at 1.1665 and rebounded. If it surpasses 1.1730, momentum seems likely to pick up. There is room for further gains. If that happens, it could rise to around 1.1890. The long-term trend is around 1.1660, but since it has surpassed this level, it is easier to move higher. The fair value is 1.1600, and it is currently above this. There is still potential for further increase.

From “Tetsu Emori's Real Trading Strategy” (Tetsu Emori) quote.

Attention is focused on Powell's congressional testimony before both houses on the 17th and 18th. As risk appetite wanes, will the dollar remain solid? (Editorial staff)

Euro/dollar, 1-hour chart.

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