$EURUSD : Weekly closing above (SMA) 20
Saturday, February 8, 2014
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Euro achieved a weekly closing above SMA20 located at 1.3605 US Dollar. However the pair achieved such a closing the last week of January 2014, but this week closing happened after touching the long-term support around 1.3480. The simple moving average ( SMA) 20 traded positively itself, Trading above SMA 50 positively. According to DOW theory, trend change need to be confirmed by moving averages, but we can see that the SMA 20 and SMA 50 is trading positively since December 2012, and the long term uptrend started July 2012 still ongoing.
Stochastic oscillator shows a chance for a new up wave short-term wave, at the mean time, RSI 14 did not breach the 50 line and is trying to show a bullish reversal again. Trading above 1.3600 is the main factor that let us believe that a new up wave is starting, and the next week could be the confirmation.
Breaching 1.3665 resistance level could be another positive sign for the intraday trading, while breaching 1.3830 cold confirm bullishness.
Dear trader, keep an eye to the next week trading, as stabilizing above 1.3600 could mean we will see 1.39 territorial again!
To check the full forex performance results for 2013 and join @Aymanfxsignals contact my Email here ( Aymanfxsignals@yahoo.com )
Ayman Khlifat on Twitter : @Aymankkhlifat
Euro achieved a weekly closing above SMA20 located at 1.3605 US Dollar. However the pair achieved such a closing the last week of January 2014, but this week closing happened after touching the long-term support around 1.3480. The simple moving average ( SMA) 20 traded positively itself, Trading above SMA 50 positively. According to DOW theory, trend change need to be confirmed by moving averages, but we can see that the SMA 20 and SMA 50 is trading positively since December 2012, and the long term uptrend started July 2012 still ongoing.
Stochastic oscillator shows a chance for a new up wave short-term wave, at the mean time, RSI 14 did not breach the 50 line and is trying to show a bullish reversal again. Trading above 1.3600 is the main factor that let us believe that a new up wave is starting, and the next week could be the confirmation.
Breaching 1.3665 resistance level could be another positive sign for the intraday trading, while breaching 1.3830 cold confirm bullishness.
Dear trader, keep an eye to the next week trading, as stabilizing above 1.3600 could mean we will see 1.39 territorial again!
To check the full forex performance results for 2013 and join @Aymanfxsignals contact my Email here ( Aymanfxsignals@yahoo.com )
Ayman Khlifat on Twitter : @Aymankkhlifat
