So As we can see on the chart above.
- Getting mighty close to our rising 2012 trend line
- MA 50 has dropped below our 200 MA indicating some bearish momentum
etting mighty close to dropping below support of 1.3519
- Very Bearish start to the week
I'm placing a sell order below 1.3500 and hopefully with some right words from Yellen we may have ourselves a downside break!
On the flip side there may be an opportunity for a long position given the RSI is approaching the lower end of the spectrum but will wait for a better signal as I don't think the fundamentals match.
- Getting mighty close to our rising 2012 trend line
- MA 50 has dropped below our 200 MA indicating some bearish momentum
etting mighty close to dropping below support of 1.3519
- Very Bearish start to the week
I'm placing a sell order below 1.3500 and hopefully with some right words from Yellen we may have ourselves a downside break!
On the flip side there may be an opportunity for a long position given the RSI is approaching the lower end of the spectrum but will wait for a better signal as I don't think the fundamentals match.