So As we can see on the chart above. - Getting mighty close to our rising 2012 trend line - MA 50 has dropped below our 200 MA indicating some bearish momentum etting mighty close to dropping below support of 1.3519 - Very Bearish start to the week
I'm placing a sell order below 1.3500 and hopefully with some right words from Yellen we may have ourselves a downside break!
On the flip side there may be an opportunity for a long position given the RSI is approaching the lower end of the spectrum but will wait for a better signal as I don't think the fundamentals match.
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Sitrade
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Update.I'm still in this trade. A whole lot of event risk coming up so i'm going to tighten my stop loss to lock in the profit I have now and will let this one fly!
Sitrade
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UPDATE:
Positive Data for both sides and we are seeing some indecision from the market. On a shorter time frame you can see that when the EUROZONE data came out there was a spike in the EURO but it was quickly SOLD out..