Trade Idea:Long EURUSD above 1.3058 !

EURO-Dollar-min

As shown on the daily chart below. The pair has rejected from the key support 1.3060. According to the %R Williams indicator. We have bullish divergence on the daily chart. If we shift down to the 1-hour chart. The bearish trend (RSI and MACD) starts losing its momentum.

The Idea: Long above 1.3058. With target towards 1.3160 and 1.3250 as a second target. Stop out with a 4 hour closing below 1.3058. Note that as long as the daily close is above 1.3058. The pair will try to move higher. But If 1.3058 is broken on a daily closing basis. Short after rejection from 1.3058 with a target towards 1.2950 and 1.2800 as a second target.

 

MARKET DATA

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