Technical analysis by AMEGA - Opinion
Fundamental analysis: now we are seeing a pronounced short-term bullish trend. From important news on the EU today we expect information about the ECB meeting on monetary policy.
Technical analysis: the long-term trend is bullish since 2012. On the H1 chart, pay attention to an important psychological point - the price rests on the upper edge of the screen, it seems (but is not) too high. A powerful breakthrough says not about the imminent turn, but about the readiness of the price to move in this direction.
Trading recommendations: we follow the short-term bullish trend, the long positions are above 131.383. Cancel this scenario and respectively short positions below the level 129.890.
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 1.13742-1.13650 (100 points from current minimum) with using the pattern «Head&Shoulders» at least on timeframe M15.