EUR/USD sell on 4H - good risk/reward ratio - strong sell on 1W
In the morning the euro cost up to 1. 1395 US dollars - its the highest price since the end of March. The European Central Bank (ECB) had set the reference price at 1. 1316 dollars on Friday.
Morning trading between the euro and the dollar was quiet. New economic data could not move the pair. The Ifo business climate, Germany's most important economic barometer, clouded for the third time in a row in June. At 97. 4 points, it is at its lowest level since the end of 2014. The reasons include the weaker global economy and numerous political risks such as the trade disputes between China & USA.
RSI and MACD indicates an incoming down wave correction to at least 1,125 which is short term take profit area.
This long term analysis is valid if the second trend test fails. Entering this short trade before the drawn second trend confirmation is more speculation then investment ;)
I will publish a long term analysis on weekly basis this week. I've discovered something that may be driving the eur/usd price towards 1. 08.
Morning trading between the euro and the dollar was quiet. New economic data could not move the pair. The Ifo business climate, Germany's most important economic barometer, clouded for the third time in a row in June. At 97. 4 points, it is at its lowest level since the end of 2014. The reasons include the weaker global economy and numerous political risks such as the trade disputes between China & USA.
RSI and MACD indicates an incoming down wave correction to at least 1,125 which is short term take profit area.
This long term analysis is valid if the second trend test fails. Entering this short trade before the drawn second trend confirmation is more speculation then investment ;)
I will publish a long term analysis on weekly basis this week. I've discovered something that may be driving the eur/usd price towards 1. 08.
Trade active:
short trade active
Trade active:
take profit 1 within next 24-48 hours
Trade closed: target reached:
all targets reached - new analysis on weekly chart is coming soon. Target 1.05 ;)
Comment:
The analyses provided are for informational purposes only and do not constitute financial advice or recommendations to buy or sell anything. The information presented is based on personal research and interpretation.
