Looking for this reversal to be stalled somewhere between 1101 and 1105. Then expecting a pullback, where I would be lookiing for entering longs. The ideal area would be ~1095. Target for the next leg up would be 1118-1120.
Ultimate target would be 1130, which is a exactly 25 pts. from the 1105 resistance area.
Some things to watch out:
- Support at 1095 and 1085-1090 must hold for the trend to continue higher.
- EUR is still relatively weak, even though it has gained some ground against the USD.
