lundi 11 juin 2012

Bearish Divergence Spotted on the 2H Chart

EUR/USD 2 Hour Chart , 01:00AM EDT 6/11/12


Hello buddy,
We spotted a bearish divergence on the EURUSD 2H Chart(on the 1h also), and we also have a huge opening gap due to Spain demands for bailout and data release from China, boost the Asian markets and risk appetite.                                                                                                                   

EURDUSD made new high on the week opening while the stochastic did not  do the same on the 2h chart. Moreover the gap push the price ine the zone 1.2670-1.2640 which is delimited by the monthly pivot and the daily second resistance chart.
Another point the pair is on the top of the rising trend channel.

We can easily say in this this configuration that technically we have solids arguments to think the pair will fill the gap.

My trade idea: Short the Euro @ 1.2645. I will place my stop @ 1.2675 (yes I know it is tight).
My profit target is on the first daily resistance @ 1.2571 which turn out in this situation as a support, I will close half of my position at this point and will monitor the market to take the decision (update will coming on the blog).

Good Trading !!!                                                                      
                                              

Aucun commentaire:

Enregistrer un commentaire