ECOFIN Meetings – 24 Jan 2012 Euro/Dollar THV 4 Analyze

Posted by admin | Posted in Long Forex Trades | Posted on 24-01-2012

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4 Hours Chart:

Very strong bullish trend. RSI come to doors of overbought zone but turned down. And now is not going anywhere. It is at 69. Slow trix is still red and going down. But fast trix is near slow trix and is green and is looking to cross over.

Hourly Chart:

Bullish trend. RSI is going up very fast and is already near overbought zone. Right now is at 74. Slow trix is still red and going down. But fast trix have changed color to green and gave us green bullish divergence. It is looking to cross over slow trix.

15 Minute Chart:

Mega strong bullish trend. RSI is going down after being in oversold zone. Right now it is already at 49. Slow trix is green and is going up. Fast trix have cross over and is red.

5 Minute Chart:

Very strong bullish trend. RSI is switching to go up and is now at 42. Trixes are red and very close to each other. They are about to cross over.

Fibonacci Pivot Line is at 1,29798 and we have open high above it at 1,30132 and right now we are moving around opening line.

Support Lines:
1,29458
1,29124
1,28916
1,28702
1,28368
1,28028

Resistance Lines:
1,30132
1,30472
1,30680
1,30888
1,31229
1,31562

Plan:
We have bullish trend all around and when we get some good signal from trixes we should go and trade bullish. But there is at the moment pretty strong resistance line so i will wait to see if we break it.

Forex News:
Maybe yesterday we didnt have news, but today we have many important and not so important news. Some are already out.

We will not trade between this times:
9:30 – 11:30
14:30 – 16:30

9:00EUR
French Flash Manufacturing PMI
48.5
49.2
48.9
9:00EUR
French Flash Services PMI
51.7
50.5
50.3
9:30EUR
German Flash Manufacturing PMI
50.9
49.1
48.4
9:30EUR
German Flash Services PMI
54.5
52.6
52.4
10:00EUR
Flash Manufacturing PMI
47.4
46.9
10:00EUR
Flash Services PMI
49.1
48.8
All DayEUR
ECOFIN Meetings
11:00EUR
Industrial New Orders m/m
-2.1%
1.8%
15:00EUR
Belgium NBB Business Climate
-10.1
-10.6
16:00USD
Richmond Manufacturing Index
6
3
<a href="http://instaforex.com/?x=CFNM">InstaForex</a>

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