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The EUR/USD and the 1.3900 level.

Apr 11 2014 at 08:45
posts 774
We must agree that the EUR/USD is clearly overbought and may at any moment make a correction, specially now that it has reached the 1.3900 level, and that there is a higher probability of investors taking their profits off the table. Let us wait and see if indeed the price retraces from this zone.

ArdiFX (ahuruglica)
Apr 11 2014 at 13:33
posts 852
Yes you are right. The measured level where bulls will take profits are 1.3925-1.3960.

That will not mean change of trend. Just a correction.

ArdiFX (ahuruglica)
Apr 11 2014 at 13:35
posts 852
Yes you are right. Levels 1.3925-1.3960 are where bulls are looking to take profit. For now that will not mean a reversal, just a correction.

Apr 15 2014 at 08:41
posts 774
That drop from the 1.3900 level has taken it close to the 1.3800, but it hasn't touch it quite yet. A visit to that level could give us a bounce to the upside, but I would prefer a visit to the 1.3787 level around the 200 EMA on the daily chart.

Apr 16 2014 at 21:13
posts 224
Very unstable behaviour, any long time prediction is difficult...

Apr 17 2014 at 06:36
posts 774
I think that we should definitely wait for the EURUSD to visit the 1.3900 level for a possible short entry from there.

Apr 17 2014 at 09:01
posts 51
Just to add that all these comments about reaching 1.3900 and then shorting, etc must be put into the context of the time frame you are trading. Of course none of these comments are much important if you are trading on 5min or 15 min for example.

Although the main trend must be taken into account even when trading in those short time frames there are plenty of oportunities to go long, go short, etc until we reach those levels.

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