Pair has fallen last week and is resting dead smacked on the 38.2% Fib level after hitting the 1.34 price level. Bears came in big time at that level.
Stochastics and RSI are at the oversold level. There is a potential for a bounce up but I don't want to be picking bottoms here.
So I am neutral on this pair on the Daily time frame.
LIKE my fan page at facebook.com/forexachievers for daily technical analysis on the majors.
Stochastics and RSI are at the oversold level. There is a potential for a bounce up but I don't want to be picking bottoms here.
So I am neutral on this pair on the Daily time frame.
LIKE my fan page at facebook.com/forexachievers for daily technical analysis on the majors.
Founder of www.ProTradersNetwork.com, home of the TMG Titan traders who uses TMG Titans Pro Tools developed by Ardy.
TMG Pro Tools (MT4) includes: TMG Grid Master Pro, Titan Ranger, Grid Calculator, Titan Timer and TMG Livewire Pro
TMG Pro Tools (MT4) includes: TMG Grid Master Pro, Titan Ranger, Grid Calculator, Titan Timer and TMG Livewire Pro