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Hello Traders,
I hope you had a profitable trading week. The week is over but the opportunities are far from over. I am looking at the EUR USD chart and spotting instant trading opportunity. Let me show you what I mean. The RSI 14 is rising above the 50 price level, is the first sign that the bulls are waking up. The MAs, 10 and 50 are also penetrated which adds another supportive argument. The ECB kept its rates unchanged which seems to me that traders, assuming all else equal, are discounting other information in the price formation of the pair. Whatever that information might be, it seems to me that the market is poised for another bullish rise, possibly touching the 1.09 level this time. Therefore, I am going to place a buy order with the Asian opening. This is it for now.
Best Wishes,
Georgi
I hope you had a profitable trading week. The week is over but the opportunities are far from over. I am looking at the EUR USD chart and spotting instant trading opportunity. Let me show you what I mean. The RSI 14 is rising above the 50 price level, is the first sign that the bulls are waking up. The MAs, 10 and 50 are also penetrated which adds another supportive argument. The ECB kept its rates unchanged which seems to me that traders, assuming all else equal, are discounting other information in the price formation of the pair. Whatever that information might be, it seems to me that the market is poised for another bullish rise, possibly touching the 1.09 level this time. Therefore, I am going to place a buy order with the Asian opening. This is it for now.
Best Wishes,
Georgi
