last time the pair touched 37 RSI on 8H chart got up 100 pips ,…the time before jumped right up with 300+ pips ,…
Plus , it is sitting right on top of 200SMA ,….
only double(2bars) 8H close under 1,0370 confirms bullish to flat bias
Despite the channel resistance in the EURUSD/
and channel support on USDOLLAR index
we haven’t triggered our shorts in the € cause , despite our gauge for a risk AUD/JPY has went under that wedge formation,
yet is making higher lows , indicating an uptrend .
A close (4H) under 82,30 will confirm it
as well as
a fundamental push against the EURO.
So far major expectations have been set for the ECB getting into the bond market as well as many other interventions circling around
that even if nothing solid comes out from this week talks between
Greek PM Samaras and different EU officials ,
market participants will see what they looking for (major support)
and act accordingly .
The set up is there ,…
just fundamentally is lacking participation ,…
Not yet folks ,…
has crossed under that
rising wedge formation(4H)
to be considered a valid ,
the speculative interest
(pictured in green)
should move under
(pictured in white) ,
and confirming change in the bias from bullish to flat.
Having in mind the two extremes this pair consist from ,
will be interesting to follow developments in the majors following
the high risk sensitive AUD/JPY
in a sense that investors equilibrium lined up with a falling channel resistance,
today’s move in USDOLLAR crosses was logical ,…
what catches my eye is that
if keep falling with approximately the same speed true out Asia-Pacific
will reach channel support ,
which happened to be major Pivot as well 81,50
keep an eye on it 😉