EUR/USD Long Position Maybe interesting

2017年4月30日

Chart Analysis:

• In the weekly chart the price crossed the SMA-20 periods (which stands for half year price average), we had the confirmation at the end of the week since the weekly session closed above SMA-20
  
• Now we have a complete green candlestick above the strong weekly support line 1.08459
• And the SMA-20 is upward directed
  

Economic Analysis:

• Mario Draghi in the last EBC conference emphasized how strong the economics European figures are.
  
• At the same time he didn't strongly encourage investors to buy more EUR due to French elections, which was translated with that small weekly green candlestick, in other words market hesitation
  

Personally, I will set a long position towards the second resistance line 1.10196 with a SL at the level of 1.04 in the case of a breakout and confirmation of 1.09564 i will strengthen my position towards 1.24