Short term momentum systems have had a torrid 36-hrs; anything with an M/A time frame between 24 to 120 hrs went from short to long and back to short in early trade this morning before flipping back long again. Our rudimentary moving average model is long 1 unit EUR presently (1.2321) out of a maximum 3. A close below 1.2318 sends it maximum short (-3) that's what a knife edge we are sitting on. 200-hrs to 13-days our model is -1 and adds on a close below 1.2319.
EUR/USD May 25 at 21:46 GMT
1.2932/39 (0.00%)
H1.2936 L 1.2936
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Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts.
Any opinions, news, research, analyses, prices or other information contained on this story, by FXstreet.com, its employees, partners or contributors, is provided as general market commentary and does not constitute investment advice. FXstreet.com will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
