Strong Euro – 22 July 2011 Euro/Dollar THV 4 Analyze

Posted by Superadmin | Posted in Fibonacci FX Signals | Posted on 22-07-2011

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4 Hours Chart:
Bullish trend. Euro got really powerful after EU Economic Summit. Trixes are moving up in parallel way but fast trix is trying to change color to red. As well we had failed red bearish divergence. RSI is 74 and is going down away from overbought zone.

Hourly Chart:
Very strong bullish trend. Fast trix enter in to overbought zone and changed color to red. Trix are crossed and both are red, they are going down. RSI is at 57 and is not going anywhere.

15 Minute Chart:
After that big jump we are in neutral trend. We had green bullish divergence but price is not going up. Trixes are very close to each other and both are green. RSI is 57 and is not moving anywhere.

5 Minute Chart:
Weak bearish trend. We had many green bullish divergences and all of them failed. Instead of price going up we went down. So i guess we will hardly go up. At this moment trixes are both green and are moving up. They are very close to each other so don’t expect big bullish movement. RSI is 88 and is in overbought zone.

Fibonacci Pivot Line is at 1,43313 and we have open many pips above it and price is moving near that line.

Support Lines:
1,42754
1,42184
1,41845
1,41494
1,40935
1,40365

Resistance Lines:
1,43883
1,44442
1,44792
1,45143
1,45702
1,46261

Plan:
Not much of a plan for today. Last day in a week i will be looking for slow entries and fast outs.

Forex News:
Yesterday so many good important news, but today only 3 news and only 1 is important. German Ifo Business Climate will effect Euro and starts at 10h GMT+1.