Technical Outlook and Chart Setups:
Nothing changes technically, after the Fed Rate yesterday. The single currency set to gain in August series. As depicted above, bulls are targeting fresh highs at 98.00/98.50 levels. Any dips are certainly opportunities to enter long positions and build more. We are in wave 4 of the major down trend, and it should extend itself till 98.00/50 levels at least before giving up. Intermediary resistance is placed at 97.50 while support is just below 95.00. Stay long for now.
Trading Recommendations:
Continue holding long positions from last week. Target 98.50.
Good Luck!
