This pair is threatening further downside pressure as it ended last week giving back all the gain from the previous week. Sitting on a short-term uptrend line as the RSI and Awesome Oscillator diverge from the pairs uptrend over the past 5 weeks. A break of support at 0.77000 leaves room to run down to 0.76000 - 0.75500. We will be giving price action some room to breakdown before going short, look for the pair to take out 0.76800 before taking action.
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Here at Unique Forex we pride ourselves in being the World’s first “Virtual Forex Trading Floor” where we will turn ANYONE that trades with us into a profitable trader fir FREE! That’s right…for FREE! All you need to do is to fund your own trading account.
Unique Forex has a team with 40+ years combined trading experience and with our proprietary algorithm we significantly enhance the trading experience. Utilizing the two, we are able to offer some of the most powerful research on an array of currency pairs. Here you will get all of our research on some of the more popular majors like the EURUSD, but if you would like to get access to the rest of our research head over to www.unique4xpro.com/research.html
If you want to join our Virtual Trading Desk check out www.unique4xpro.com
Also follow us on all of our social media:
Twitter @unique4x
Snapchat @uniqueforex
Instagram @uniqueforex
Tune in to our daily live market insight @ 4:30 p.m. EST on Periscope @unique4x
Order cancelled:
We are cancelling this order as the pair is quickly approaching the level we were using for our stop. We will re-evaluate and could possibly enter a new order if price action warrants.
Comment:
Order back in play as this pair failed to close above the price we will be using for our stop, 0.78100 We will be looking to take this pair short.
Order cancelled:
Once again we cancelled our open order, with tomorrow being a big day for the ECB we will sit on the sidelines rather than risk being in a position which may be negatively impacted by the announcement.