Euro to Hit 1.50

The Euro Dollar daily below below has a current divergence and stochastics shows an overbought condition for a while. This pair in normal conditions should head toward 1.5 the figure where it should be met with psychological resistance and possible reverse for either a breather before continuing the uptrend or for a correction.

The red moving average could be used to act as a stop loss (plus some give) or the trend channel (which is above 90%) could be used. In addition to that you could also used stochastics No False Bar.

FXCPS Team

Chart courtesy of Advanced Get. Data provided by eSignal.