Hello traders i hope you all had a very good trading month,EUR-USD pair it's still on a crazy rally that's very good for those forex traders who placed their long orders on this pair but EUR is slowly becoming too expensive for european businesses.
In those businesses european banks are included and if you count in the quantitive easing,the low rates and the expensive euro cetrainly is not a good combination for european banks.Altough this unfriendly environment gives us a nice trade opportunity on Deutsche bank stock.
German elections also may play a role in stock's volatility.
TECHNICAL OBSERVATIONS
1.Price is entering a well respected area.Everytime visit that 13 area a lot of buyers were found and led price up again.
2.We have a double bottom formed on 4H chart signing a possible change of the trend area.
3.We have bullish divergence on the RSI indicator.
4.We have the Stochastics exactly above 50 area on 4H chart that shows there is still some strength on the latest move upwards.
5.Next interesting areas to get ivolved are 9,50 for longs and 17-18 for shorts.
POSSIBLE LONG TRADE
ENTRY PRICE AT 13,40
STOP LOSS 12,90
FIRST TARGET T1 AT 15,60
SECOND TARGET T2 AT 16,50
THANKS FOR SUPPORT!
KEEP FOLLOWING FOR MORE PROFITS!!!
In those businesses european banks are included and if you count in the quantitive easing,the low rates and the expensive euro cetrainly is not a good combination for european banks.Altough this unfriendly environment gives us a nice trade opportunity on Deutsche bank stock.
German elections also may play a role in stock's volatility.
TECHNICAL OBSERVATIONS
1.Price is entering a well respected area.Everytime visit that 13 area a lot of buyers were found and led price up again.
2.We have a double bottom formed on 4H chart signing a possible change of the trend area.
3.We have bullish divergence on the RSI indicator.
4.We have the Stochastics exactly above 50 area on 4H chart that shows there is still some strength on the latest move upwards.
5.Next interesting areas to get ivolved are 9,50 for longs and 17-18 for shorts.
POSSIBLE LONG TRADE
ENTRY PRICE AT 13,40
STOP LOSS 12,90
FIRST TARGET T1 AT 15,60
SECOND TARGET T2 AT 16,50
THANKS FOR SUPPORT!
KEEP FOLLOWING FOR MORE PROFITS!!!
Trade active
Comment:
First trade was a complete success now we entering again some all time classic demand zone for DBK,let's have an eye for any bullish confirmations as the R/R ratio is becoming tempting again..
Happy profits and keep following for more!!