Still trading in its giant bearish channel.
Looking to close a another daily candle or two above the 200MA and finally have our golden cross, in that case I will look to long for a small retest to the upper channel near 1.15-1.17. If we get rejected down off the 200MA I will be looking for a nice move to the downside.
In the case of a move to the downside I will also be eventually be looking for the opportunity to switch to long at the bottom of the channel, which is a major support line that has held since November of 2009. Just something to look out for.
RSI currently still looking somewhat bullish and making steps upward. Will await confirmation and proceed. If we make move to the upside I will likely place heavy shorts at the top-level considering we're also very overbought.
Safe trading, cheers
Looking to close a another daily candle or two above the 200MA and finally have our golden cross, in that case I will look to long for a small retest to the upper channel near 1.15-1.17. If we get rejected down off the 200MA I will be looking for a nice move to the downside.
In the case of a move to the downside I will also be eventually be looking for the opportunity to switch to long at the bottom of the channel, which is a major support line that has held since November of 2009. Just something to look out for.
RSI currently still looking somewhat bullish and making steps upward. Will await confirmation and proceed. If we make move to the upside I will likely place heavy shorts at the top-level considering we're also very overbought.
Safe trading, cheers