Side movement = Long
This may be a good opportunity to open a long position, if only considering the long term sideways movement, yet i
would be very careful about the size of the position...
From 1.0862 we could observe an acceleration of the down movement (trading bellow the lower line of the BB50 and higher than the BB20). However on Friday we closed above BB50, in my opinion this shows some weakness .
The Stoch RSI is bellow 20 which allows us to be optimistic about a long position.
The green lines are my targets.
YET!! I was actively trading between 2014 and 2015(down trend) when technical indicators were useless, and only the trend mattered. Should the election of Trump triggered a trend then...we should focus on the trend.
would be very careful about the size of the position...
From 1.0862 we could observe an acceleration of the down movement (trading bellow the lower line of the BB50 and higher than the BB20). However on Friday we closed above BB50, in my opinion this shows some weakness .
The Stoch RSI is bellow 20 which allows us to be optimistic about a long position.
The green lines are my targets.
YET!! I was actively trading between 2014 and 2015(down trend) when technical indicators were useless, and only the trend mattered. Should the election of Trump triggered a trend then...we should focus on the trend.
Note
My sentiment is that the last week idea is still valid. In addition to the technical analysis, some fundamentals sustain the long idea. - President election in Austria (Van derBellen) won, this should be good for the Eur because he sustains the Idea of the EU, in contrast to his opponent.
- Although, we have a referendum in Italy, in my opinion a very important event, i am optimist with both scenarios. Should the result be negative, than we will assist to a market panic and a strong sell, yet the process of applying the results will require a lot of time and bureaucratic actions, so I will actually buy the panic at some point.
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