HumbleTraders
Long

EURUSD - Bullish scenario

FX:EURUSD   Euro Fx/U.S. Dollar
56 0 1
For bulls who watch this market, it is clear that the pair just reached the lower band of ascending channel and the correction to the upside is possible. Technically speaking, the pair has been printing lower prices for almost a month and it should find some bids around the current level.

The current level (1.1110) is close to 50% Fib retracement from the 1.1620 top and the daily stochastic is forming a divergence. These conditions should further support the short term correction.

Bulls would have to wait for the price to form a bullish reversal before long positions might be entered.

See the price printing higher high on 30min charts (above 1.1250) and let is retrace back towards 1.1190 area. This would be a great place

For more details go to http://humbletraders.com/technical-analysis/

Related Ideas

Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out