No reason to hurry long positions !
A closer look at the H4 reveals some more inside information about this pair. It's it is going sideways since May 2012 and it seems to have a bottom which I think will be tested one more time just to see if it holds up. This last intraday/shortterm uptrend climbs without much momentum. Actually, there is a bearish negative divergence going on. If we take another look on a weekly chart - not shown here - we will see that it might be - also tempting - a little bit too early for a long position. The price is running right into resistance on almost all timeframes. I want to see the price come back a bit - best on last green trendlinie - or conquer the downtrendlinie so that on a pullback there is some support in my back before it should eventually keep on going north.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.