The pair is trading @ 1.4245; yesterday it went down to 1.4155 and than up to 1.4266; today main data to be released will be Unemployment claims,it is expected worse than last time; in my opinion it should start diminishing really soon; If people with a job are really few (10% less), where do you want to find another 551k fresh unemployed? ;) (it's a joke, a serious one). in the 4h chart the pair is going to test two days ago high and is trading on the high bollinger band; considering the last low on July 8Th this pair ofter touch the high two days ago, it didn't retrace for more than 23%; the EMA is in perfect sintony with a bullish continuation; the RSI is @ 61; the stochastic need a break, just a small one; the all picture seems for a continuation on the upside, also the variance is diminished in the last 8-12 hours, it should go up but something is not working; today we may have a smaller number on unemployment claims, and it may be interpreted as the crisis is over...we can higher interest rate... maybe on EU level...
here are some support and resistance:
R3 1.4444; R2 1.4333; R1 1.4289; S1 1.4178; S2 1.4111; S3 1.40
my trading plan:
I will wait up to 5 min before the unemployment data are released and I will think about an action, that I will take not before the data is released;
If you have gut right now the trend is up
so buy.
have a good trading day
:D
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