Something doesn't look quite right to me at this point. The price of the EURUSD currency pair did not managed to break 1.35 support. A positive divergence was created on a 28 period RSI. These are positive signals, if the price will manage to break again above 1.3550, I believe that the 200 ema on a 4 hours chart could be retested. I will remain slightly bullish on short term as long as the price will not break and close below 1.3500.
Prices now are at consolidation, to move on to the bearish ground it would need the ECB to introduce a LTRO plan.. negative interest rates proved to be not enough for investors. Prices are slightly moving down because the negative rates announcement is still pricing it self in the chart. The big picture trend is up while an ECB announcement of a LTRO would bring down the EUR. This pair incorporates massive risk. At the end I chose to follow the trend and go long.
Razvan
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Hey guys, This analysis is mainly based on short and very short term view. I also think that the bearish main trend is not in danger, but on a lower time frame I was expecting a bounce from the support area.
Nightwish
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the way I see it is that price is in consolidation. fact that it did not break lower yet does not worry me at all. divergences disappear during consolidation , so my personal take is continuation of the trend reversal. there is nothing bullish here and fundamentals go hand in hand with technical aspect of trading.
ton.nguyen.9277
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i agree with you.i think price can retest 1346-1348 area before rise to 137xx
lgiulian
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Wouldn't be too easy? Are you already in a sell?
ton.nguyen.9277
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hi.Lgiulian.divergnces disappear during consolidation,so i strong think that price wil rise in 137x.
Nightwish
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I have long term short positions and the last one was entered on triple top at 3660
lgiulian
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Dangerous waters for sailing :) I took some profit selling recently. Now I'll wait to see a clear direction and the first pullback.