100 - 200 Pip Opportunity - EUR/USD Long - 05/02/2016
The primary trend of EUR/USD is bullish on charts and price is trading above the trend line in its daily chart. In 4 hourly chart the price is sustaining above 200 day SMA and taking support of 50 day SMA indicating uptrend of the pair. It is having an important resistance at the level of 1.12750 and support at the level of 1.12232. If it breaks its resistance level on the upside and sustains above it then we can expect it to show further bullish movement in the pair.
EUR/USD
RECOMMENDATION BUY TARGET 1.12750 The Major trend of Euro it is showing strength for buying If it crosses the resistance level then one can initiate buying position in the pair . If it crosses the level of 1.12689 then it can test level for the target of 1.13000 with second target at 1.1430 with the stop loss 1.1175.
CHART FORMATION:- Euro is trading in a range and trading near the trend line. Breaking the support line will lead to upside movement. Eur is trading above the 50 DMA with a negative bias.
INDICATORS:- RSI is trading near to 65 levels with a positive bias, in upcoming session upside movement is expected. MACD and Signal line is sustained above the zero level line.
i got in at 1.0880 and took most money off now but letting rest ride seeing if we hit 1.14 area which is possible
piponomics
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Yes it is, and congrats on your pips!
Swinger60
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thanks kate,eu could be on verge of beeing in a bulish phase so i will be looking for other long setups...currently we are in accumulation phase and looking alot healthier
PooyaSalehipour
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nice this one
arif_awan
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rickstolle
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kate looks like a well thought out analysis. i am impressed.
piponomics
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Thank you! :)
galaxytime77
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Arif you from?
I had multiple people in the opposite paritede.um graphic works.
arif_awan
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from canada, but soon this pair will start falling. lets see.