EUR/USD Falling Wedge Long 08-03-2017 (AP)
Updated
Hello dear traders & welcome back to Growing Forex
Try creating pockets.
Micro news to follow today which will change the outcome of EUR/USD.
1.ADP employment change.
2.Unit labour cost
3.Non-farm productivity.
4.10 years note auction.
Euro poised against the Dollar after gaining momentum previously & lost its shore today.
A possible recovery from 1.0560 levels or the levels shown in the chart can trigger up to 1.0622 & initially 1.0700 levels. RSI is currently over-sold indicating a short term buy from 1.0550 levels its target should be near the pivot of 1.0577. A chart pattern of falling wedge is a perfect example for this scenario with RSI oversold with price reaching the Retracement level of 61.8%. The sentiments of the Traders remains 55% Buyers Drop by 2% today (yesterday 57%).
Good-luck,
Regards,
Growing Forex.
Try creating pockets.
Micro news to follow today which will change the outcome of EUR/USD.
1.ADP employment change.
2.Unit labour cost
3.Non-farm productivity.
4.10 years note auction.
Euro poised against the Dollar after gaining momentum previously & lost its shore today.
A possible recovery from 1.0560 levels or the levels shown in the chart can trigger up to 1.0622 & initially 1.0700 levels. RSI is currently over-sold indicating a short term buy from 1.0550 levels its target should be near the pivot of 1.0577. A chart pattern of falling wedge is a perfect example for this scenario with RSI oversold with price reaching the Retracement level of 61.8%. The sentiments of the Traders remains 55% Buyers Drop by 2% today (yesterday 57%).
Good-luck,
Regards,
Growing Forex.
Note
All targets achieved and Trade closed
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