Everybody watches and trades Eurusd for some reason. I believe that this is the craziest non-exotic financial instrument that you can trade, and I believe that the rate of winning traders in Eurusd is much smaller than the average 5% in FX.
I don't really watch this pair, I occasionally look at it, because the signals that I trade are so rare on the Eurusd chart that is not worth the time.
This time though, I see a very clear bullish signal at a very strong support level. Look at that labeled candle, the kangaroo tail. Prices usually jump in the opposite direction of the tail. Look at this retest of 1.35000, how little steam left for the bears (MACD histogram) and how the last days have drawn very weak candles. Until there is a strong up day, theres no confirmation. I allready have a minor long position, but it's insignificant to the account, and I'm going to add after I see an uptick in MACD histogram and a strong day. Until then, this is just preparation.
If there will be confirmation, I'm looking for at least 1.38000, but I expect close to 1.40000.
The weekly has a very nice picture, and actually this is the reason that I looked at the daily chart, after I saw that doji last week in an article on a popular forex site.
I don't really watch this pair, I occasionally look at it, because the signals that I trade are so rare on the Eurusd chart that is not worth the time.
This time though, I see a very clear bullish signal at a very strong support level. Look at that labeled candle, the kangaroo tail. Prices usually jump in the opposite direction of the tail. Look at this retest of 1.35000, how little steam left for the bears (MACD histogram) and how the last days have drawn very weak candles. Until there is a strong up day, theres no confirmation. I allready have a minor long position, but it's insignificant to the account, and I'm going to add after I see an uptick in MACD histogram and a strong day. Until then, this is just preparation.
If there will be confirmation, I'm looking for at least 1.38000, but I expect close to 1.40000.
The weekly has a very nice picture, and actually this is the reason that I looked at the daily chart, after I saw that doji last week in an article on a popular forex site.