Technical analysis by AMEGA - Opinion
Fundamental analysis: the weakening of the Euro against the backdrop of the strengthening of the dollar continues. The medium-term bearish trend that began in January 2018 has not yet turned around, although some signs of a reversal are already beginning to appear. Important news on the EU and Japan is not expected today.
Technical analysis: the long-term trend is bullish since 2012. On the D1 chart, the Alligator lines are intertwined - this indicates the uncertainty of the situation. Some conclusions can be done after the breakout (or rebound) from near the resistance level 130.347.
Trading recommendations: you should let the situation develop and prove itself. In the meantime, we follow the short-term bullish trend. Long positions above 129.744, cancel this script and respectively short positions below the level 128.486.
Sincerely, Sergey Ryazantsev - financial analyst of brokerage company AMEGA
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It’s recommended to try to have a short position near the control resistance zone 1.14786-1.14694 (100 points from current minimum)with using the pattern «Head&Shoulders» at least on timeframe M15.