Thursday, April 14, 2016

A Good Entry for Short-term Long EUR/USD Positions

There is a very good signal on the one-hour EUR/USD time frame for an entry for possible short-term long positions. The signal in question is several candlesticks formed in the one-hour time frame right above the support level at 1.1250 visualized by the lower band of the Bollinger Bands indicator.

That said, I think that it is unlikely for the pair to start climbing before the news coming from the USA later today.

If the pair does begin climbing, its first target would be around 1.1287 – 1.1290. We should also keep in mind that the news could turn out to be good for the American economy, which would push the pair down.