J_Graystone
Short

EURUSD Oversold Double top with Bearish RSI Divergence

FX:EURUSD   Euro Fx/U.S. Dollar
87 3 4
EURUSD             Oversold Double top with Bearish RSI Divergence at good structure level for a short
Well spotted J, I enjoy following your trade set ups... keep it up.
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Hi Luis, I do not trade on Fundamentals. I am purely a technical trader. I do pay attention to major news events however I don't hold trades off because of news.
To make a statement like "This analasys is not right" is not only very bold but also arrogant too as none of us know where the market is going to go. All we can do is trade our strategies that have a high positive expectancy through back testing.

As you can see this one hit my target 1 at previous structure. I also think that this market will continue down until the EUR is at parity with the Dollar but hey, what do I know?
Reply
The EURO goes straight towards 1.1405 / 161.1 Fibo happening in daily period.

The critical area for REVERSAL is 1.1460 to 1.1470 still a long.

* There are still negative reports E.U. Thursday.

May 07, 7:30 Initial Jobless Claims High Impact 262.00K 280.00K other 70-90 pips for the EURO.


* The consolidation that will happen until Friday, reports by EU.

* May 08, 7:30 Nonfarm Payrolls High Impact 126.00K 213.00K
* May 08, 7:30 Unemployment Rate High Impact 5.5% - 5.4% is observed that low unemployment.

This analysis not right.
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