Weekly Trend direction: Bullish
Weekly trend reversal level: 1.3775
Key G7 support levels: 1.3855, 1.3775
Counter-trend and scalping opportunities:

Strategy: Whilst above the weekly trend reversal level buy dips to support levels after an entry signal.

Today’s trade suggestion: A difficult trading month to date, with no trend direction trades available, despite the rally in the euro and the general demise of the US dollar against a variety of currencies. It’s interesting to note that some currencies are at (or close to) record highs vs. the US dollar (Aussie and JPY) This week, the trend remains bullish whilst above 1.3775, with the only key support just above at 1.3855 (the 78.6% Fibonacci
retracement level) We shall have to see what happens here in the next few hours, with a potential buy signal developing. Otherwise, we’ll see what happens if/when we reach the 1.3775 level. Note that daily and weekly candles have turned somewhat bearish, so we might be in line for a far larger correction.

Summary: Buy dips to 1.3855 or (if it fails) then observe 1.3775 for signs of reversal. Only enter the market if there is a clear G7 entry signal in both cases.