As per my initial analysis few days ago:
1. 2 patterns completing in the zone
2. of 1.414 with 1.618 with 0.886
3. is not oversold yet. It still has little way to go up before it becomes oversold. 10sma has crossed 200sma and 50sma showing high momentum to the upside.
4. On higher time frame (daily) we are just below 50sma
1. Have 2 trades
2. For the first trade place a limit order on the zone
3. Keep the second order waiting for a confirmation in the zone.
4. There will be 2 targets. But depending on market situation, you can either close both trades on the target 1 or keep one running for target 2
27 April: 6:00am EUR German Import Prices m/m
I would love to hear your opinion, feel free to agree or disagree in your comments. Please give it a (thumsup) if it makes any sense.