The wedge seems to be ready to break to the upside.
During the last 1-1,5 months price tagged 4 times the lower trendline of the wedge. The 1.11 level was not broken down though. We are in the apex of this 1-year-wedge and gold might be signaling a trend change in the currencies.
One could start an initial long position here and add to the position at the break of the important resistance of 27th May high at 1.1217 ( it's the 50 EMA and the upper trendline of the wedge also)
The next reistance is the 100 SMA and the 13th May high at 1.1266.
After that comes the February highs and the 200 SMA at 1.1390.
During the last 1-1,5 months price tagged 4 times the lower trendline of the wedge. The 1.11 level was not broken down though. We are in the apex of this 1-year-wedge and gold might be signaling a trend change in the currencies.
One could start an initial long position here and add to the position at the break of the important resistance of 27th May high at 1.1217 ( it's the 50 EMA and the upper trendline of the wedge also)
The next reistance is the 100 SMA and the 13th May high at 1.1266.
After that comes the February highs and the 200 SMA at 1.1390.
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Draghi can’t live his life without hitting the euro at any resistance.
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The problem that we printed a daily key reversal. Im holding the longs but everybody needs tio decide on his own if holding the longs or not
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I’m starting to hedge the position here.
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DXY has reached the trendline.
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97,06-97,39 is my level where I think DXY will roll over.
I'm hedging from 96,59.
I'm hedging from 96,59.
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.. and the EURUSD is getting close as well.
1.1259 the 100 MA could be where it reverses.
1.1259 the 100 MA could be where it reverses.
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This will affect our XAUUSD short idea too.
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Closing the hedges here. Long again.
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Long from 1.1206
