04-Hour Chart
30-Minute Chart
(CLICK ON THE CHART TO ENLARGE IT)Euro is very tricky this week. Very contradictory positions, as below:
# Dailies strongly favour the bearish: Double-Top; very significant MACD bearish divergence, RSI below its Moving Average and ponting down.
# 04-Hour shows prices at bottom of major bullish channel (see blue lines) and major support at 1.4585, which is where 2 fibonacci points overlap: the 23,60% of major up move 1.3358 to 1.4966 and same 23,60% of up move 1.4122 to 1.4730.
I see a short-term bullish correction so my long poins are:
BUY failure 1.4585 or 1.4600 with tight stop 1.4575 and 1st LIMIT 1.4665. Close hald position, move your STOP to entry point and final LIMIT 1.4715
BUY break 1.4635 with STOP 1.4605 and 1st LIMIT 1.4685. Close half position and move your STOP to entry point and final LIMIT 1.4715.
If I´m wrong and bearish resumes.
SELL break 1.4585 with tight STOP 1.4610 (watch for false breakouts) and LIMIT 1.4370
