It seems the pair is looking for support for a big spike up before NFP. Timeframe 4 hs is in the process of changing. We see some divergences in 15 minutes. With all this you can buy from here (1,3596) buy is very probably that the pair will test 1,3557 as the final support before the spike. Take profit is at 1,3770. Cut all losses at 1,3490. Good trading.
Once again, yesterday May 15, 2014 my last trade idea of 9 days ago was accompplished. Hope someone took advantage of it. To those: congratulations.
Regarding my last trade idea, the price decided to breakdown at 1,2820 towards 1,3670 instead of supporting at 1,3880. Hope someone took advantage reversing. Remember in the reversed trade to cut loses at 1,3880.
I will wait the price to reach my support level at 1,3880 for a chance to go long towards 1,3970. The breakdown support level is located at 1,3820 that once is broken it will drive the price to 1,3670.
As well as my first idea, my last trade idea of April 15,2014 has just ended today with success. It took the price almost half a month to touch all the fractals mentioned. Hope someone has took advantage of it. Remember: once you determine your forecast, wait with faith and conviction and let the price reach your levels.
We see two divergences after wave V (circle) meaning 1,3800 is giving good support. There is a second support remaining at 1,3771. Then we have the breakdown point at 1,3750 that will drive the proce below 1,3670 from where it will recover again up. There is a chance to buy right now and buy again at 1,3771. Targets are up wave IV (circle) at 1,3895/1,3920. Watch...
Those who attended my last idea, here you have the development of what happened yesterday after FOMC. Do not use stop loss. Use the stop loss as a Reversal and go for the double of lots to the 80 % of the target.
Good opportunity to place a sell at this level and continue short while 1,3847 remains intact. If 1,3847 breaks up will drive the price towards 1,3900.