ForceFollower
Long

Rally in the offing

FX:EURUSD   Euro Fx/U.S. Dollar
400 5 5
The up trend is over for me, but no bearish sentiment either; the pair will just stay in a trading range for some time. A nice rally expected now, as the recurring support/resistance forces along the Median Line have come to cushion the abrupt sell-off decline. I admit I lost here - I didn't see it coming, although now I can see RSI divergence was warning of a possible change in behavior. At best we'll see the price hit the 1.3382 level (alternate high plus the palate, ie. the bottom of the range at the recent top), making some kind of H&S . But I may take profits sooner than that.
indeed, have not been attentive to the comment under the chart and the price target.. thought that you were forecasting the resumption of the uptrend. Think the same.
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Divergence indicates trend reversal, doesn't it?
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This divergence has already played out in the large sell-off. Divergence itself doesn't mean that the trend will change to the opposite; it just means that the current trend may be over soon (and sometimes it's a false signal, like it was with the AUD/JPY pair early in June). However, I agree that this target may not be reached in these market conditions, but I believe we should get at least to 1.3282 anyway.
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I also had prefered the upside and made some loss in this pair. And it's no shame to admit this. The overall performance is important.
I don't think that the uptrend is over, but I won't take a position at moment. I also think that we may get a relatively broad range between 1.3170 to 1,3420 for the summer. It's enough to buy and sell and become rich. But it's nothing for me. I will wait and see for either the confirmation of the uptrend or a new, i.e. downtrend.
Let's have a rest now at least for EUR/USD and enjoy the summer.
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ForceFollower motleifaul
You're right, EUR/USD should get off our radar for some time. We've got a very nice weather here in Poland too, so I really enjoy it.
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