I am neutral on this pair. The pair has traded above a downtrend line but last week, came back in! On top of that we have stochastics pointing down. So I am hard fetched to call a long on this pair. MACD though is neutral, going sideways but above the zero line.
My take on this pair is that it might go down a little more before the bulls might come in.
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My take on this pair is that it might go down a little more before the bulls might come in.
For daily technical analysis on majors, do proceed to LIKE my fan page at facebook.com/forexachievers
Founder of www.ProTradersNetwork.com, home of the TMG Titan traders who uses TMG Titans Pro Tools developed by Ardy.
TMG Pro Tools (MT4) includes: TMG Grid Master Pro, Titan Ranger, Grid Calculator, Titan Timer and TMG Livewire Pro
TMG Pro Tools (MT4) includes: TMG Grid Master Pro, Titan Ranger, Grid Calculator, Titan Timer and TMG Livewire Pro