Hello!
This is the first idea I am sharing, so please be patient with me :) Some improvement ideas are always welcome.
For the couple last days, we have seen EURUSD under quite some pressure.
We are now getting into an interesting entry point. Whilst we are making lower lows (but not much lower), the RSI is rising: bullish divergence.
On top, we are on a strong vertical support line.
And lastly: the EU PMI was very strong. US PMI is outstanding and will be released in approx. 2 hours.
If this holds and we are able to get through the first vertical resistance, as shown on the chart, a move to the next vertical resistance area (1.90 - 1.95) could be possible.
My idea should get invalidated below 1.75. I have put my stop at 1.74.
This is the first idea I am sharing, so please be patient with me :) Some improvement ideas are always welcome.
For the couple last days, we have seen EURUSD under quite some pressure.
We are now getting into an interesting entry point. Whilst we are making lower lows (but not much lower), the RSI is rising: bullish divergence.
On top, we are on a strong vertical support line.
And lastly: the EU PMI was very strong. US PMI is outstanding and will be released in approx. 2 hours.
If this holds and we are able to get through the first vertical resistance, as shown on the chart, a move to the next vertical resistance area (1.90 - 1.95) could be possible.
My idea should get invalidated below 1.75. I have put my stop at 1.74.
Comment:
This could now be a decision point. A long lasting vertical support is currently tested as resistance. If it holds, it could be a nice entry point for a short...
Watching this.
Watching this.
EURUSD is now looking pretty bearish. 1.75 could hold as resistance - if it does, we would like to go short. 1.20 could be incoming then...