Tuesday, November 25, 2008

forex eur-usd long position

As i have discussed earlier in the previous post the possibility to move up is always around as long as the weekly stochastic still moving upwards. In addition this movement is also backed up by slight improvement in the Euro Zone economic data.

Now position is moving near the upper bollinger band line which may move further overshot up to 1.3273. This is always a possibility in Forex because we do not want to underestimate the power of crowds. However if it does go for overshot up to 1.3273 then the reversal power is going to be more powerful then ever.

Under normal movement the pair position right now is just an ideal place as expected in the earlier analysis that is somewhere near the upper band of the daily time frame.

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