How to profit from FX Markets by 
A bullish divergence has been formed on the RSI indicator suggesting that a rally to 145,00 -146,00 resistance area could take place over the coming days/weeks. (see RSI on chart building higher lows?)
139,74 support has held further bearish pressure and the pair might of bottomed out in the short term although this is only a theory that would need to be confirmed with a break above 146,16 (200 SMA on daily chart).
Any retracements below mentioned support would negate this theory.
César B.Leiceaga
Hi Cesar
I like your setup. Would you trade off the daily chart, or look at lower time frame charts?
On 4hr chart I see stochs are O/B and price is testing 50ema. If this ema can be cleared on 4 hr chart, would it be a good entry for a long, or would it be wise to wait for stochs to come down to O/S on 4 hr chart to enter the trade - as then 4hr and daily stochs would be in O/S region.
Btw, I trade this pair off 5 min charts. Would like to learn how to trade this off higher time frames as I find stops have to be quite wide on higher TF charts.
Thanks and regards
su25
Dear su25,
For longer term trades you will need to change your money management plan, use wider stops etc. I use 2 different accounts in order to trade shorter and longer time frames. Open a demo account a try longer time frames, it’s a completely different story.
Regards.