Let's see and analyze the technical chart of EURUSD currency pair with Doda-Donchian and Doda-Bbands indicators. I've taken snapshot from MetaTrader Forex trading platform.
|EURUSD Technical chart|
On 06-Oct-2011, both the indicators mentioned above gave Buy signal at around 1.34269. And after some resistance, as explained in my previous post, it went up.
Now, let's shed some light on currency strategy.
Although the price is rising, Doda-Donchian line is flat. That means it will attract price in coming hours. So, watch the level of 1.3470 now. The price may kiss this level to resume its upward journey.
On the upside, it will face resistance at 1.37057.
Hope it will help you.