tradewithhedge

$EURUSD just waiting for NFP, but selling is perfect

FX:EURUSD   Euro/U.S. Dollar
Hi traders,

Today is NFP day and the market will be probably be boring until the news comes out. So I was just looking this graph of $EURUSD 4hr and he is inside of a triangle at the moment, which is normal to lock himself before a big event. However, by looking RSI , the trendlines are there, but I personally prefer the second one (to be broken down) which will give us a alert for downside pressure. Ofcourse the other trendline works too and for that to happen we need to see a very bad number from NFP.
So keep in mind: IF we see RSI breaking trendline it is a alert of a breakout, but as I am a USD bull at the moment, I prefer selling, but if we see a bad number, I will probably buy EURUSD             but with a smaller size trade.
Resistance here is: 1.0948/0980.

Thanks,

Thiago Duarte
@thiagotrader
thiago@duarteinvestmentgroup.com
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