After a serious fall, the price action is now signaling a rally for the European single currency. The Falling Wedge, accompanied by the positive divergence on the 14 RSI, will be confirmed by a breakout above the upper line. My targets will be 1.36 and 1.3630.
1.3600 was hit, scaled out and waiting for 1.3630.
AdrianRotaru
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I think area 1.3610-1.3615 is a more realistic target on 60 min chart. Anyway, we are in bearish bias on medium term
Razvan
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You are right, for the moment it stopped under 3610 :)
HamedAghajani
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Thanks for sharing. would be great if advise on SL areas? Kindly
Razvan
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The current low, in this situation would be a good stop. 1.3574
xnedja
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Maybe a different angle of of view ? I see the channel down, RSI divergence and 1,36 as a good resistance .. Bears are still in the game ..! Today, very quiet no news, who knows what the day may bring ...
Razvan
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I am not expecting for the euro to get back ti 1.37 or higher, this is a short term analysis :)...i am still bearish on medium term.
xnedja
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Razvan Thanks for sharing. Your analysis are very good for me, give me more self-confidence. Thank you and good luck