The stoch indicates that the pair is oversold, and it has reacted to the .50 fibonacci level.
Is now the time to go long on EURUSD?
a sell limit [email protected] seems more likely
I did - but hindsight may prove that this was not a smart idea. I sortof jumped the gun without thinking.
So you believe the current upward move is a correction, rather than reversal? Why?
Also, do you have any idea what caused the fall in price earlier today?
Thanks
- the pair is ranging between 1.35-1.38 since last September
- the pair broke downwards 1.37 support earlier today
- stoch (14,3,3) is forming its 3rd bearish consecutive divergence in weekly chart
[QUOTE=JRC;607494]Also, do you have any idea what caused the fall in price earlier today?/QUOTE]
most possibly because of this
Thanks for your help. Good spot with the weekly divergence, I wasn’t that observant. However, doesn’t your first point support a bullish argument? I mean, price seems to be responding the the mid channel resistance?
Also, just of interest, how long do you tend to keep your positions open for? 
This all depends on your strategy and time-frame. Asking this question you will get buy as well as sell calls which are essentially useless to you. Trade your own strategy and if you get a buy signal then enter your long position. As you can see by pulling up different charts you will get different signals. Focus on one time-frame and create your strategy based on that.