Saturday, January 10, 2015

TRADE No: 1 EUR/USD Long 09/01/2015

Below it is obvious that the EUR/USD is in a major DAY MA50 Down Trend.

MA 50 has been tested 7 times but the breaks have never been confirmed.

Thus the main target at the moment is current MA50  :1.2293. But expected level in the coming days would be around 1.2250.

Why to enter the trade and when?

The below chart shows 60 Min chart.

MA 50 has been tested 5 times but the breaks have never been confirmed.The market has been in 60 min MA50 own Trend.

Until yesterday afternoon.

The break f the 60 min trend has been confirmed around 1.1830 at 18.00 as the final circle in the above chart shows.
It can also bee seen that MA20 crossed over MA50 at the end of the day.

So these two show that the recent active downtrend within the major downtrend is finished and we can expect a bounce to test Daily Chart MA50 .

The critical low is. 1.1754

Below is the setup parameters of the trade summarized.

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