"great buying opportunity" is it? I am not certain, in fact I am more and more in favour of a possibility of a reversal, just look at the attached weekly chart. Bloody hell, looks like a divergence based reversal in the making, obviously still early to say, but daily already is bearish.
agreed there is a divergence. Not unlike divergence on weekly chart 2004, but it went on to clock another high along with another divergence. Ok maybe "great buying opportunity" was a bit strong. I bought in because I liked the flag formation, hope it works out but I'm out if it breaks down.
just been mentioned by another ET member, 60 bullish divergence and 240 is showing a bullish failure swing, which is first after the decline, also MACD has a tendency to follow suit after RSI performs 1 or more failure swings, so signs of potential continuation are there, though I feel that it will only become solid when the daily chart stops looking bearish, which it does IMO.
I'm long from 1.3073 looks like its getting some nice support right now. Target around 1.3120 but not going to be to greedy.
Hello romik. I am back from my honey moon vecation in thailand.... and now its a good time for dollar depratiation...