Yesterday’s call was confirmed as investors bought EURUSD to higher levels for a 2nd day in a row. Most importantly this move took the currency pair back above the key 13 day mvg avg , and last Wednesday’s Marabuzo line. The scope of the move from Friday’s low means signals for sentiment are overbought. This may lead to a reactive move, especially after Asian upside, but our studies are, temporarily, positive and so this morning’s call is from the open but leaving room to also buy a 1.2352, Asian open dip. The risk is 1.2316 with upside targets of 1.2406, Feb 7th high, 1.2434 and 1.2476, the 6 & 5th Feb highs.
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I prefer wait and sell during this moment…
We must see USindex and wait to Sell around 1330-1370.
And take profit at 1250-1200.
We’ve all been waiting for the bottom, yet still alludes us..
Or does she?
From what I can see here, we have one last wave down before finding our turn around point so to speak.
What you think guys ?