My overall bias on EU today would be long.
Trend line is holding nicely.
There has just been a cross over on the Stoch and RSI is looking very bullish.
MACD also bullish.
Not the best time to buy now but after a reversal (off or close to the trend line) would be a good time to get in.
On a fundamental front this week Monday was a read day for the USD and for the EUR is wasn't so positive.
Today we've seen some bad data come out of the EUR which tells me we might be seeing price drop soon.
There is still quite a lot f data to come out of the US today and we will see how that holds but as for now pretty neutral on the fundamental front.
If I was to get into this one it would be based solely on the technical side of things.
Let me know your opinions.
Have a good week trading guys
Trend line is holding nicely.
There has just been a cross over on the Stoch and RSI is looking very bullish.
MACD also bullish.
Not the best time to buy now but after a reversal (off or close to the trend line) would be a good time to get in.
On a fundamental front this week Monday was a read day for the USD and for the EUR is wasn't so positive.
Today we've seen some bad data come out of the EUR which tells me we might be seeing price drop soon.
There is still quite a lot f data to come out of the US today and we will see how that holds but as for now pretty neutral on the fundamental front.
If I was to get into this one it would be based solely on the technical side of things.
Let me know your opinions.
Have a good week trading guys