Golden Cross in EUR?

[DannyBly1]

Looks like we may have a golden cross (50 period EMA crossing the 200 EMA) in the EUR - very bullish signal if we get it IMO

 

[DannyBly1]

I should also mention we are right up against a big 50% level on the hourly

 

[bigmrfrank]

Problem with 50/200 is by the time you get a signal most of the move is over. Look at the bearish cross - where could/would you have entered?

 

[DannyBly1]

Glad you brought that up -

The last bear cross on the hourly (on feb 5th) ushered in a 340 pip move from 1.4779 where the cross occured down to 1.4438 on the 7th - I agree, it would have been hard to get in when the cross formed, but that was a pretty big and fluid downmove that followed it...

Where could you have entered if you missed the initial move - perhaps selling retracements at around 1.4690 or lower at 1.4660...

hindsite's 20/20...watch me get smoked on my long now ; )