EURO / US Counter trend rally from oversold conditions. Short

Euro Fx/U.S. DollarFXCM

Description

⋅ Aug 7, 2012 7:32 PM

The RSI(7) works well at spotting overbought / oversold conditions.The major down channel is still intact and price below the 20 week MA.

Comments

alinolar

⋅ Aug 21, 2012 3:49 AM

Followed.

Angel

⋅ Aug 8, 2012 3:14 AM

I agree, but also I see a inverse shoulder head shoulder with aprox 250 pips bullish, let see!

rodrigosmarts

⋅ Aug 8, 2012 10:31 AM

you mean a double botton?

Angel

⋅ Aug 9, 2012 2:19 AM

in the mean time, there are some longs. on the other hand, i agree that eurusd can be bearish.

rodrigosmarts

⋅ Aug 9, 2012 2:26 AM

huh... head and shoulders pattern?!? neckline is broken!!

rodrigosmarts

⋅ Aug 8, 2012 1:55 AM

Nice divergence call. I'd like to see EUR breaking through the resist. trendline and the 2700 resistance before changing my preferrals for buying

nmike

⋅ Aug 8, 2012 2:38 AM

I agree