Eur/USD – My View

First the charts.

In order from left to right – 4 Hour, Daily, Weekly.

On the 4 hour chart (which I really don’t like for many reasons, but it is useful sometimes…like this time.) Divergence on the MACD.  Trouble coming up with the convergence of the 65 EMA, 50% Fib and a longterm S & R area.  However, they all explain themselves in the longer time frames.

On the Daily chart. A close above 3750(ish) will confirm my long bias.  I have a small Long in already from 3589 (call it a gut feeling from there) but I will add a full long on a close about 3750.  My targets are on the chart @4100 and then further @ 4200, 4250(ish).    the 65 EMA is moving down trying to “catch up” to the price.  It will and I think that price needs to relieve some “pressure” before moving down further.

Weekly.  I see the dip below the S & R zone and the indecision bar from the previous week as a buy signal as long as it can clear the Support turned Resistance (which is still support ;).

What strategy is this?  Semi – Mid to Long term.  Not a Martingale, just a simple chart analysis and an opportunity taken.  I have a 100 pip trailing stop that is already 41 pips in profit if it is triggered right at this moment.

I will update as we move!


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