Im very excited because this pair confirms my bias that the EUR is extremely oversold and will make a strong correction next days.
This pair is in all-time lows, I have many reasons to buy based on technical and currency strenght analisis.
First of all, Iets take a look at W1 chart analisis:
We have a bullish butterfly already completed in confluence with a trendline support.
Fundamentally, I know the EUR may do another push down or spikes because the QE of BCE starts next week.
Thats why a will use INVESTOR STYLE, this means i will enter right now and if the price touched new lows o spikes i will hold and add more positions.
I doubt it but just in case a put three possible entries on W1 chart.
Here on D1 chart we see the price has already tested the PRZ and is spiking from it. There is alson an AB=CD pattern and a D1 trendline support.
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Currency Strrenght Analisis
********************************
The EUR is extremely oversold against other pairs:
This is the EURUSD-monthly chart:
The same scenario with EURGBP
The NZD is overbought and has already started a correction against other pairs:
NZDCAD
NZD JPY
Im ignoring the NZDUSD because we may think the correction is because the good news form US.
*************************************************************************************************************
Thats all, off course nothing is 100% sure in forex but i think this trade has great succesful posibbilities.
Best regards.
This pair is in all-time lows, I have many reasons to buy based on technical and currency strenght analisis.
First of all, Iets take a look at W1 chart analisis:
We have a bullish butterfly already completed in confluence with a trendline support.
Fundamentally, I know the EUR may do another push down or spikes because the QE of BCE starts next week.
Thats why a will use INVESTOR STYLE, this means i will enter right now and if the price touched new lows o spikes i will hold and add more positions.
I doubt it but just in case a put three possible entries on W1 chart.
Here on D1 chart we see the price has already tested the PRZ and is spiking from it. There is alson an AB=CD pattern and a D1 trendline support.
********************************
Currency Strrenght Analisis
********************************
The EUR is extremely oversold against other pairs:
This is the EURUSD-monthly chart:
The same scenario with EURGBP
The NZD is overbought and has already started a correction against other pairs:
NZDCAD
NZD JPY
Im ignoring the NZDUSD because we may think the correction is because the good news form US.
*************************************************************************************************************
Thats all, off course nothing is 100% sure in forex but i think this trade has great succesful posibbilities.
Best regards.