VF oppinion: EUR/USD



EUR / USD: Trend short, medium long movement

The price broke above 1.1466 horizontal resistance and registered strong bullish bar followed by a pin bar with a very long shadow.

Such a formation makes trading a venture. The price has not yet gone into its base to sell, and even then there is nowhere to put stop.

CCI is above 100, which indicates a strong optimistic attitude in the short term.

Therefore the long as of now is risky, because of the the pin bar and there are no suitable place for sell, still no test of support, former resistance 1.1466. There is another signal of price action for possible downgrade, which is Dark-Cloud Cover.

Wait for further signals, it is very likely to see a test of 1.1466 levels break, where you can look for short-term signals for long.

If the price reaches 1.1661 levels will start looking for places to sell to try to trade pin bars with a close stop 1.1732

Currently marketed speculation that the Fed will not rush with interest, experience has taught us, however, that these are short sentiment.

Stefan D. Angelov - Head of Stocks Trading

 Varchev Traders
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