EURUSD possible correction to 1.1870, then new Short

The pair ended with a bullish formation of 4-hour chart, we expect confirmation signal possible koerektsiya, probably will move to the diagonal resistance. In a breakthrough will seek test of the strong level 1.1870, where and MA50, which will give us good prerequisites for search shortovi positions. The dollar remains supported by better data on the US economy, which is the best performing currently and expectations for recent raising interest rates. In Europe, the expected quantitative easing by the European Central Bank and the upcoming elections in Greece support the downward movement of the pair.

SMA 50 is below the SMA 100 and SMA 200 and the MACD switched to red, which is in favor of sellers.

Varchev Finance

 Varchev Traders

Read more:
If you think, we can improve that section,
please comment. Your oppinion is imortant for us.
WARNING: Any news, opinions, research, data or other information contained within this website is provided as general market commentary and does not constitute investment or trading advice. Varchev Finance Ltd. expressly disclaims any liability for any lost principal or profits which may arise directly or indirectly from the use of or reliance on such information. Varchev Finance Ltd. may provide information, quotes, references and links to or from other sites and blogs and other sources of economic and market information as an educational service to its clients and prospects and does not endorse the opinions or recommendations of the sites, blogs or other sources of information.
Varchev Finance