News

We have a couple of volatile news items due out today (and during the week) so it would be best to await for them before deciding a position.

The 13 Euro Daily is overbought but the 8 Daily is currently looking like it is going to produce a bullish cross so in addition for waiting for news, wait for a possible overbought or bearish crossover on 8 before taking up any shorts.

As for a long position on the Euro (although there could still be some strength left), from the analysis it does not look like a long is worth considering due to the possible limited upside potenial.

8 and 13 Weekly are overbought on the Euro. Remember, the larger time frame dictates what happens to the smaller frames.

Al the best & good luck traders.