10-20-08
3:22a GMT – EUR/USD is consolidating above support (which is a 61.2% Fibonacci level froma long-term rise over the past year) at 1.3350. As long as the pair stays above that number I am looking for buying opportunities with the pair. We have seen a bullish divergence in the RSI over October, further indicating that pair is headed for a rise. Look for traders to take money out of the dollar and put it back into the stock market this week, causing the EUR/USD to rise.
Trading Idea: Looking to buy on bullish signals near 1.3350. Long targets favored back up to 1.3360.
(click to enlarge)
Â
Click here to receive my free forex signals via email
Click here for more info on how to use my free forex signals
Click here to learn how much you can earn with our Forex Income Calculator
Discuss this signal with me and fellow traders at the new Forex Discussion Groups
Recent Comments