4 Mar 2017

EUR/USD: Next Move Sell or Buy ?

By on 21:40

EUR/USD Current price: 1.0612

Recently, Fiber has been trading downwards. Price tested the level 1.0493 support level, So today I share some fiber analysis with you that may help you in your trade setup.

I think now a good time to specific some  features of the EUR/USD monthly chart, First a market test 1.0495 level and make a bullish candle in D1 and come back to last week level which was 1.0629, Second the divergence in RSI, Third described a major buy scenario
scenario long term trigger for upside to 1.1100.

Yes, market stuck in these 1000 pips from last 2 years, So according to this, Market shows a perfect bullish signal for long, If it goes for new low then 1.02 level is excepted.

I use Elliot wave on D1, that show market currently upward to wave 3. Then may correction to, and so on to wave 5.  So in current position, we may take buy on fiber.

It's Bonus :D