EURUSD Trade Setup & Forecast for the week 10th Feb, 2014
Weekly Chart
Daily Chart
Hourly Chart
Last week we identified a possible bullish bat, We have yet to see the completion of this pattern. The sudden bullish movement was a result from the economic news.
If you see on the Daily Chart, The stochastic are going to diverge where we have a lower high, but stochastic have a higher reading, I believe there is still a bearish momentum in this,
A Short setup is shown on the hourly chart where it is the 127.2 fib ext of last weeks range + a 78.6 retrace level
A Long setup is at completion of the bullish bat.
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