Is it TIME to BUY ?
Referring to my last analysis of this pair (Where will it end?) 5 days ago, where I was looking for buylimits at lower levels, it seems to me that this right here is worth a try to go long with the 61.8% Fib-Retracement in the back as support. YES, it does not look like a very trustworhty situation but which spot does at the beginning of a expected counter reaction? Anyway, I trust the two shadows and the Fib-Linie. Unfortunately, Momentum is not yet positive but it seems to me that it will show some sign of life during the day. Watch the Dollar Index, as it is sitting around 80 and I guess there will be resistance for the Dollar ahead. I am going long right here as I can calculate my risk and the chart tells me pretty clear and fast where I am wrong if it happens to be so.
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