Technical analysis by AMEGA - Opinion
Fundamental analysis: short-term bearish trend has turned around, prices are moving up again. Today promises to be interesting – a lot of important news on the European Union and Japan – and therefore will be able to earn on volatility. Japan: news (a BoJ Monetary Policy Statement and the BoJ Interest Rate Decision) pushed the price up significantly. Europe: we expect the value of Gross Domestic Product, as well as the Consumer Price Index.
Technical analysis: the long-term trend is bullish since 2012. On the H4 chart, we will pay attention to the behavior of the Alligator: the lines are intertwined, and the candles consistently break through all three lines. This happens when you change the trend.
Trading recommendations: we follow the short-term bullish trend, the long positions are above 130.504. Cancellation of this scenario and correspondingly short positions - below the level of 129.193.
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.