Trading news

EURUSD – prognosis via Dow Theory for calendar week 51/2015

Weekly chart:

Since the last high at 1.1713 $, the euro has had to endure some substantial setbacks. For several weeks it managed to move sideways still, but then came the hefty setback that lead the euro down to 1.0523 $ and therefore close to the last point two. For two weeks now, the price has been significantly recuperating and is approaching the last valid correction zone once again.

Chart1

Daily chart:

With the rise of the last two weeks, the previous downtrend was able to be broken (at 1.0762 $), yet a valid trend could not be installed. For this, a closing price above 1.1042 $ would be required. Until then, anything could happen.

Chart2

Hourly chart:

In the hourly chart the situation is considerably simpler, since a valid uptrend is present here. Currently, a new movement seems to be beginning, such that one could enter a nice long trade here. The stop should be located below the green correction zone.

Chart3

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

All the best

Markus Gabel

Head of Sales/Trading

AgenaTrader/TradeEscort

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.

Tuesday, 15 Dec, 2015 / 9:20

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