We are entering a new week and first day in a week is not something special if we look at news. Not much will be going on, so we will adjust our self’s only on technical analyze. Maybe will those speeches at 13h and 19:10h have some impact but don’t rely on it.

4 Hours Chart:
Strong bullish trend and we hit our resistance lines at 1,40084 and trix are coming from upper zone down, both are red and crossing. This is strong signal for bearish movement. So it is possible trend change. I have drag trend lines and will monitor for breaches and look to trade short from there if i see good entry’s and backup signals. RSI is 61 coming from above zone.

Hourly Chart:
On hourly chart we are going near our coral line but trend is still bullish. We had 3 failed bearish divergence and 3 times went up, so maybe third time we go down. Trix are close to each other and showing no real price movement signal. Our support line is at 1,39496 and maybe if we breach it we go short. RSI is moving from below zone to 59.

15 Minute Chart:
RSI is at 44. Second support line is at 1,39516, first is at 1,39643 and third is at 1,39496. We are already in bearish trend here and have 3 red divergence. Trix is moving up and is different color, slow trix is green and fast trix is red.

5 Minute Chart:
Neutral trend and 3 failed red divergences for bearish movement, now trix are turning green and crossing for a bullish movement signal. RSI is 61 coming from bellow.

PLAN:
Waiting for trend line breach and trading short, we already have many indicators and many red divergences that failed, so it looks like we have still good support, but i dont see Euro going over 1.4 , maybe we will test 1.4 once again and then move down, we have time for this and cross trend line just at 1.4, that would be mega strong signal and i would enter big.

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• 18 February 2011 Euro/Dollar THV 4 Analyze

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• 18 February 2011 Euro/Dollar THV 4 Analyze