FUNDAMENTAL ANALYSIS: The attempt of the USD to hold the favorable position with the help of the GOLD is failing. Like in the previous case where this happened (see the firs rectangular), and like it usually happens, because of the stable EUROPEAN economy (again, FUNDAMENTAL) rising GOLD price will move the USD down, respectively the EUR up.
This TECHNICAL ANALYSIS show that even though the GOLD went down sharply the EUR didn't follow trough.
*At lower time frames you can see that the the price is strongly rejected one time and we can see a weaker divergence.
RECOMMENDATION:
You can position your self for LONG BUY position after 14:30 when economic data on the USD will be announced. Just wait for it to be negative. Which most likely we be.
Or wait till Monday when things will be more clearer because on Sunday a lot will be decided.
What ever happens I am BULLish on EUR! I am just trying to determine the point of entry!
Manage RISK! Set jour stop loses at 2,5% off your total capital!
Comments are strongly recommended! :D
HAVE FUN and GOOD LUCK!
This TECHNICAL ANALYSIS show that even though the GOLD went down sharply the EUR didn't follow trough.
*At lower time frames you can see that the the price is strongly rejected one time and we can see a weaker divergence.
RECOMMENDATION:
You can position your self for LONG BUY position after 14:30 when economic data on the USD will be announced. Just wait for it to be negative. Which most likely we be.
Or wait till Monday when things will be more clearer because on Sunday a lot will be decided.
What ever happens I am BULLish on EUR! I am just trying to determine the point of entry!
Manage RISK! Set jour stop loses at 2,5% off your total capital!
Comments are strongly recommended! :D
HAVE FUN and GOOD LUCK!