Important week ahead for EURUSD. In US ( ISM, NFP and Unemployment ) while in EUR ( CPI and bank rate decision) will be driving forces behind EURUSD move.
I expect short term bullish correction to be initiated by the bounce from 628 Fib retracement at the support levels 1.118 until 1.14 area will be retested and one might consider to rejoin bearish long term move.
Correction might be driven by expectation of FED not rising rated in September but rather December
Good luck or right entry :)
I'm in from the Sydney open
JamesZhang
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Nice meeting you.
I am having my undergraduate program in New York
FX_Trader_Analyst
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James it seems to me that you are using different prameters for your MA on the chart and different set of of EMA on MACD.
Any specific reason?
JamesZhang
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Morning Sam.
Actually, I am using the simple Moving Average Lines and regular MACD with 12 fast length and 26 slow length.
The MAL helps me to judge the market in the down-trend or up-trend .
The regular-parameter's MACD helps me to find the good positions of building order, sometime reveal a need of correction.
And I usually use Fib and Resistance&Support position line as well.
For instance a AUD/NZD I published yesterday.
And these are my analysis combination.
Same idea.
Gook luck to us.