Trading news

EUR/USD – prognosis via Dow theory

Weekly chart:

This valid trend is in a very mature phase, and was in its seventh correction already. But the subsequent movement was interrupted, causing the price to go back into its red correction zone once more. Now it seems as though the trend will continue, but caution is required here, since the trend is very mature and a large, direct trend continuation is highly unlikely. In this case, be careful with short trades.

Chart1

Daily chart:

The situation in this trend size is very unclear. After the trend break at €1.10864, the price slumped right down to the current low at €1.08341, thereby producing a trendless situation which is forcing us to stay on the sidelines.

Chart2

Hourly chart:

In the hourly chart we see a very mature downtrend as well. The price is in a correction, and if the price can break the last point three at €1.0881 with a close, we will have a trendless situation which will also make us stay on the sidelines for the moment.

Chart3

I hope you will remain favorably disposed towards me and always remember: the journey is the reward!

All the best

Markus Gabel

Trader asset management

BORN STAHLBERG & Partner

AgenaTrader Trading Software

IMPORTANT NOTE: Exchange transactions are associated with significant risks. Those who trade on the financial and commodity markets must familiarize themselves with these risks. Possible analyses, techniques and methods presented here are not an invitation to trade on the financial and commodity markets. They serve only for illustration, further education, and information purposes, and do not constitute investment advice or personal recommendations in any way. They are intended only to facilitate the customer's investment decision, and do not replace the advice of an investor or specific investment advice. The customer trades completely at his or her own risk. Please refer to the current version of the Terms and Conditions.

Thursday, 03 Mar, 2016 / 7:42

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Source : http://www.tradeescort.com/en/

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