As Matt and Steve say with the market tomorrow in looking for a
long entry, look for divergences on the shorter timeframe charts.
EUR/USD only pulled back to 1.2453 so far, but it's trying
to form a base and reverse, and showing positive
divergence, even looking better on 10-15 min. charts now.
That may have been close enough for gov't work, will see how
the divergences and base plays out from here, may not get back down
to 1.244. Be careful though and use stops, the volatility is
a lot higher than stocks with fast and wild swings. don't want to
be caught on the wrong side of the trade.
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EUR/USD and dollar neckline retest
EUR/USD and dollar neckline retest
Posted by sonia on 20th of May 2010 at 06:00 pm
As Matt and Steve say with the market tomorrow in looking for a long entry, look for divergences on the shorter timeframe charts. EUR/USD only pulled back to 1.2453 so far, but it's trying to form a base and reverse, and showing positive divergence, even looking better on 10-15 min. charts now. That may have been close enough for gov't work, will see how the divergences and base plays out from here, may not get back down to 1.244. Be careful though and use stops, the volatility is a lot higher than stocks with fast and wild swings. don't want to be caught on the wrong side of the trade.