Razvan

EURUSD - Bearish signals, Bullish hunch

FX:EURUSD   Euro Fx/U.S. Dollar
481 5 7
The signals are pretty bearish on the short run for the EURUSD             , from my objective opinion. meaning that another drop of the euro             could be done near 1.3560 again. But my hunch tells me that it is a good chance for the Euro             to break today 1.3630 and rally towards 1.3670/1.3700. We will have a better view near the NFP, and the best after the publication of this economic data. What do you think? What direction would you chose?
The rejection of yesterdays low was rather bullish, I'm looking for a reverse H/S, targeting at least 3680. From that area I will look for bull weakess to go short on
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I agree with you that the signals are bearish across the market which gives me a reason to be bullish! Definitely we will have a better understanding after the NFP but if i had to chose a direction i would chose long for the reasons i highlighted on the daily chart. The risk to reward for a long trade seems to be favorable as well
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the NFP will drop the price to 1.35400 and then rally to 1.36700
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The bearish signals worked on the short run, but my hunch was pretty good too. NFP dropped to 74k but the unemployment rate dropped to 6.7%. The first reaction was on the nfp but everybody knows that Fed looks after the U.R.
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very good:) bravo!
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