Quoting iboersmaDislikedHi all,
I have gotten separate confirmation of a short-term (5m) and 4h LONG signal for EUR/USD today around 2pm MST/4pm EST. Is anyone biting on this or are you all sitting out until after the quarterly trade deficit news tomorrow (Tuesday)?
IanIgnored
I think the eur/usd has some upside still left. It might be a relatively small range for the week. It's kinda got a tightening wedge developing on the weekly chart so it really could be a smaller range than last week. I also think it has more probability of breaking out long if it does break the wedge. The trendline on top for that wedge is at about 1.2060. With the current at 1.1960s it might be a good position. Although if I was to try and enter now...I'd actually wait another 8-12 hours untill the 4hr slowstoch rolls over again because it's about overbought and ready to turn south right now. A position would have to wait in the minus until that finished it's decent and turns back up. I would look for a visit below 1.1950 before entering long. I have as much as 1.1920ish for the bottom of this 4hr stoch trough with the current being 1.1969...69... a good year...lol
It really was a better idea to get in friday or right about market open. My long window was open on friday. There looks to be more range possible with cable this week. That's why I'm focusing on it right now....and euppy is wiggin me a bit. I'm wanting to go short here soon. Although my indicators are out of sorts and not really giving a clean signal but I feel it's ready to plummet like it likes to do...not without first a potential rise to 143.30ish. If it breaks the recent high at around 142.30 it will test the higher price and probably bounce off that TL and shoot below 1.40. The TL at the recent high looks pretty stiff as well. That might not give in at all. I feel another test of it is in good order at least.