Not a pairing I generally trade, but seeing as the Fundamentals line up on bullish divergence I've taken this long. Targeting the top of the major trend at the moment, will reassess in that range.
^Fundamentals. Do your own DD
Interesting set up for EURUSD. On one hand we have the euro being taken short by everyone I've spoken to. On the other hand we have a bullish pattern forming on bullish divergence. I'm tempted to take this long with the poor performance we've seen on US indices, especially with 16% of the SPX reporting on close today. Either way this will be moving quickly.
I'm posting this because I'm unsure if you guys get a notification when I update a chart. I'm in the range now where I'll take profit; the next play will come on the MACD twist. our S. RSI and RSI are both showing HOT divergences but I'm waiting for a bottom break on the RSI to trigger a momentum shift and twist in the MACD. (Eyeing 2830 as the area)
Just some light macro TA on SPX. Its very important to note the extended wave 1 we had, and the short wave 3. Doesn't leave much room for wave 5 and the dying volume is indicative of the expected move as well. I've been calling for 2600 before 3100 in most of my trading groups.