Our way of thinking: EUR/USD



EUR / USD trend is bearish, the medium average long and correction of the long.

price action: Dark-Cloud Cover, as bearish bar closed well below the middle of the bull bar, a negative signal. Yes, but it is near support levels, and the stop is too close to the maximum of the previous two bars.

Therefore, to minimize the risk is better to wait for the return of the price to about 50% bearish bar or about 1.1264 to 1.1346 and stop sell

RSI is still above 0, which increases the likelihood of a correction to 1.1264

CCI is still above 0, which also suggests a possible pull back to 1.1264

Today most likely we will have increase volatility in anticipation of the announcement of the ECB at 15:30.There will be important data from the US in the afternoon, so it is better not to hurry with punctures, hell is waiting for corrections

Sentiment: EUR past IRO has inverse correlation with stock markets, which could mean that redirect capital to protect against risks to the euro. However, it is short, because the foundation at USD is stronger than the EUR, fluctuations in the stock market will continue, which may help to test 1.1264

Stefan D. Angelov - Head of Stocks Trading

 Varchev Traders
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