Technical:
Price action bounce off right after touching the 2.618 fib level, well beyond the 2013 support level. If you look left this level is very significant during 2013, a couple of bounce occurred in this level. Today the price is courting this level again.
Based on what we have now in the fib line i would consider buying this pair. If you would look at the RSI the level is also at an oversold level another voice telling me that this could be a buy.
I am currently short in this only until it touches the 2.618. and then TP. I will continue to be short here if the pair breaks below close below the 2.618 line.
I am expecting the price to retest the 2.618 but will not close below that line.
Fundamental:
A brief fundamental. The Standard and Poor is on a bullish trend and currently consolidating it failed to make new high, so this gives us a small idea where the USD market is going.
Trade carefully and be a winner. Study own your trade.
Price action bounce off right after touching the 2.618 fib level, well beyond the 2013 support level. If you look left this level is very significant during 2013, a couple of bounce occurred in this level. Today the price is courting this level again.
Based on what we have now in the fib line i would consider buying this pair. If you would look at the RSI the level is also at an oversold level another voice telling me that this could be a buy.
I am currently short in this only until it touches the 2.618. and then TP. I will continue to be short here if the pair breaks below close below the 2.618 line.
I am expecting the price to retest the 2.618 but will not close below that line.
Fundamental:
A brief fundamental. The Standard and Poor is on a bullish trend and currently consolidating it failed to make new high, so this gives us a small idea where the USD market is going.
Trade carefully and be a winner. Study own your trade.