JohnLaw

KEEPING THINGS SIMPLE ON THE EURUSD - NOT OUT OF THE WOODS YET

FX:EURUSD   Euro / U.S. Dollar
KEEPING THINGS SIMPLE ON THE EURUSD             - NOT OUT OF THE WOODS YET
(1 day, log scale)


As said previously, I couldn't even believe EUR would show itself to be THIS strong. Well, it turned out to be short-lived. At least for now. Let's see where we stand. It's not all that negative :o)

- ever since the EURUSD             is looking for support
- but hasn't found it yet
- the RSI did not yet get into oversold levels. That is a positive for EURUSD            

I am still staying flat, since overhead resistance is near while a retest to the downsied (1.10) seems likely. A breaking of 1.12 would mean a more positive tone for EUR, since the internals haven't been crushed - in fact, they are quite OK.

In all: I will keep my patience to enter, 1.10 might be a nice one to enter long, or alternatively long on a break of 1.12 (support would then have been found & short term resistance broken).
Good post, channel I'm watching:
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