Tuesday, January 17, 2012

Do not take long position in EURUSD | 17-Jan-2012

 Below is the technical chart of EURUSD currency pair with Doda-Donchain and Doda-Bollinger Bands. Time frame used is H4.



Although Doda-Donchian is about to give buy signal in this currency pair, but Doda-Bollinger bands is quite far from price. So, there is no hurry in taking long position. Secondly, EURUSD will face tough resistance till 1.28598. So, till there, it will move here and there. In any way, avoid taking long position here. And do not miss any short position, if signal given from Doda-Donchian indicator.

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