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21 May 2007

New week (#21 - 21 May 2007) EURUSD


EURUSD is ranging from Thursday taking twice the bullish Divergent Bar and hitting once the same DBar's stop loss.
On 4 hours chart and Daily chart it formed Double bottoms failing to continue down move.

From this point of view it seems more probable to continue in up direction (supported my the positive Momentum and Acceleration), while moving forces muster strength.

If trader is on the long side - tighten the stop and keep in mind that market is in the Green Zone but in the same time there are two bearish fractals to be taken.

We've got additional Buy signal from the two consecutive green AC bars. Bullish Divergent Bar is supported by 3 green AO bars - signal to add to the long side.

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