T1: Target 1, T2: Target 2, PB: Pullback. By now, the price is showing a move towards the EUR direction on the EUR/USD Daily chart. A good EUR entry was presented last week on Thursday. Was the second price pullback opportunistic for the late comers? Yes & no because there could have been a price gap for the worst over the weekend. The same thing did not happen today like past Monday where the price gapped & took out the stop loss, probably due to the strong EUR spike on the EUR/USD M15 chart. Hopefully this week will show a pullback so the late comers can find an opportunity for entry on the EUR direction.
Contrary to EUR spike last Friday, the USD exchange rate in Malaysian major banks has risen while the EUR & AUD have risen only a little bit to return slightly above its lower price. Strange as it seems, the EUR & AUD has gone lower on Friday as compared to the USD which came out stronger. Gold is looking to test the previous high of 16th March 2008 but due for a correction wave.
Disclaimer: Trading in the FOREX market & other forms of investments involves risk. This information should not AT ALL be viewed as investment recommendations. The charts & information provided here are not meant for investment purposes & only serve as technical examples.
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