FxWirePro Call Review: Euro remains trapped in Bull/Bear tug of war

In February, as the euro reached our bullish target at 1.25 against the USD (https://www.econotimes.com/FxWirePro-Renewed-upward-momentum-might-prompt-euro-to-test-125-against-USD-1081111) , we suggested in an article, named, “FxWirePro: Euro like to rise another 200 pips in current run”, available at https://www.econotimes.com/FxWirePro-Euro-like-to-rise-another-200-pips-in-current-run-1152208  that the single currency is likely to rise by another 200 pips to test resistance around 1.27 area.

However, the euro failed to reach our stipulated target around 1.27 and has been declining after reaching 1.255 area and is currently trading at 1.218 area. The stop loss for the 200 pips trade was hit around 1.235 area. So in a subsequent call review, available at https://www.econotimes.com/FxWirePro-Call-Review-Euro-short-term-outlook-revised-from-bullish-to-bearish-targeting-117-1178120 we suggested,

“We would like to urge our readers to go short on the euro at the current rate of 1.218 against the USD and at rallies with a target around 1.17 area. The stop loss for this trade should be maintained around 1.255 area for the time being, which could be lowered later on.”

However, the euro has failed o decisively break lower and our calculations suggest that Bull & Bear’s tug of war is continuing. While bulls are trying to push the euro towards 1.276 area, bears are eyeing above-mentioned target. For the Bears it is vital to take out the support around 1.216 area.