Like I said in this topic:
I watch the long term bearish trendline carefully ( purple line I draw on the chart). If E/U rejects this trend line, the downtrend will come back despite EZ strong data.
And now I see indeed E/U rejected this trend line.
E/U bounced back from 1.1400 level.
Look at on the RSI indicator, RSI retest 60 many times, it means it cann't break above 60 --> signal for pullback from 60.
If RSI falls down -->E/U falls down as a result.
One more thing , Look at on the chart.
Ichimoku cloud + SMA500 + SMA100+ EMA50 converge at 1.1050; this proves this is a strong support.
Next strong support at 1.08 I draw on the chart.
This is two targets I watch.
- Back to Fundamental.
Next week, there is no major EZ data, but we have a risk event on Wednesday with FED Meeting where market expects FED Chairwomen Yellen will use this event to prepare for the first rate hike.
I think from now to that event, market will SELL EUR agressively and BUY Dollar ahead the event.
Strong US data + hawkish comment from FED support strongly on Dollar bull.
So what I will do now ?.
I will OPEN A SHORT POSITION OF EURUSD AT 1.1230 , STOP LOSS AT 1.1400, TAKE PROFIT AT 1.1050 AND 1.08
---------------------
Any contact: LH admin: admin@trackingforexsignals.com
Support: support@trackingforexsignals.com
Website: www.trackingforexsignals.com
FB page: www.facebook.com/sforexsingals
Best Regard!
- -TrackingForexSignals.com--
Do the Right thing- Think the right way.
I watch the long term bearish trendline carefully ( purple line I draw on the chart). If E/U rejects this trend line, the downtrend will come back despite EZ strong data.
And now I see indeed E/U rejected this trend line.
E/U bounced back from 1.1400 level.
Look at on the RSI indicator, RSI retest 60 many times, it means it cann't break above 60 --> signal for pullback from 60.
If RSI falls down -->E/U falls down as a result.
One more thing , Look at on the chart.
Ichimoku cloud + SMA500 + SMA100+ EMA50 converge at 1.1050; this proves this is a strong support.
Next strong support at 1.08 I draw on the chart.
This is two targets I watch.
- Back to Fundamental.
Next week, there is no major EZ data, but we have a risk event on Wednesday with FED Meeting where market expects FED Chairwomen Yellen will use this event to prepare for the first rate hike.
I think from now to that event, market will SELL EUR agressively and BUY Dollar ahead the event.
Strong US data + hawkish comment from FED support strongly on Dollar bull.
So what I will do now ?.
I will OPEN A SHORT POSITION OF EURUSD AT 1.1230 , STOP LOSS AT 1.1400, TAKE PROFIT AT 1.1050 AND 1.08
---------------------
Any contact: LH admin: admin@trackingforexsignals.com
Support: support@trackingforexsignals.com
Website: www.trackingforexsignals.com
FB page: www.facebook.com/sforexsingals
Best Regard!
- -TrackingForexSignals.com--
Do the Right thing- Think the right way.
