Hello, fellow traders. I have seen this bullish divergence on the RON/EUR monthly chart.
This shows accumulation for the RON.
The RON already bounced from its lower low trajectory with the US dollar because of FED cutting rates.
Romanians are great and hard working people, it is one of the nations that grew a lot economically in the last years compared to the...
The pair is on a strong 1D uptrend since it found support in September on the 1D MA50 and is close to the overbought zone (RSI = 71.170). Yesterday it peaked at 75.000 which is where it was rejected on September 20th. Moreover yesterday's rejection took place on the 1M 4.7825 Resistance, which is holding since late January 2019. As a result we are expecting a...
Pattern: 1W Rectangle.
Signal: Bearish as the price has entered the Sell Zone approaching the 1W Resistance.
Target: 4.7200 (High Volatility trend line above the 1W Support).
EUR is uptrending against RON. The last 2 resistance levels are 4.7630 and 4.7662. Once the price closes above them, there is nothing in the way until 4.7767 and 4.7803. Let's watch how the orange uptrend reacts to those levels. If the orange uptrend is lost, a retest of 4.7586 and of the silver uptrend is coming.
Vedem ca bulls au fost scosi cand linia de trend a fost sparta,iar acum se afla o lupte intre bulls-bears,un break + retest pe daily care sa se inchida deasupra unui nivel schimband structura,iar apoi H4 aratand semne de rejectie din nivel pentru un SL bun.
I have already predicted the fall of EURRON a couple of analysis earlier, but it seems to me now, more than ever, that the beginning of the decline phase is just around the corner. Let's see how much it's going to go down.
As you can see on the monthly chart, the romanian currency RON, hit the new all time high.
Despide the country”s GDP growth and salary increases, the currency is only going down.
The corrupt government dose”t move a stick to stop this outrageous depreciation.
Buy in: 4.46850
Target: 4.4705
EURRON is on a very long term 1D Rectangle pattern (RSI = 48.105, STOCH = 47.119, Williams = -47.804, CCI = -46.8286, Highs/Lows = 000, all neutral) at 4.6135 - 4.6800, trading sideways since mid-November 2017. You can work withing its Support/ Resistance levels (buy low, sell high) as long as they are not crossed. The next technical TP = 4.6303.
