The steady down move we’ve been following might be near its end. The continuing divergence well spotted on the D1 chart puts bullish pressure on the pair. Additionally there was a false break of the 0.6880 level. So as long as 0.6830 holds we should be looking for buy opportunities.
Keep in mind the market is extremely sensitive due to the situation in Greece. If you are not sure about a setup better skip it. Only take the most clear and obvious setups and use smaller risk than usual if needed.
Technical Analysis:
D1 – bearish divergence, false break
Entry:
There are two scenarios for an entry here.
Scenario 1 H1 chart:
Break above the trend line
Target 1: 0.6960
Target 2: 0.700
Stop Loss: below 0.6880
Scenario 2 M15 chart:
Look for double wave correction and then go for a buy.
Target 1: 0.6820
Target 2: 0.6960
Stop Loss: below 0.6850
Video Explanation:
Yours,
Vladimir
