EUR/USD Hidden Divergence
Updated
I spotted what looks to be hidden bullish divergence on the h1 earlier at the NY close, its still pretty early in the Tokyo session at the time of writing so anything could happen overnight but tommorow is a big day for this pair with high impact data coming out for the Euro Zone and United States. I'm still bullish on the euro and the consensus is that the ECB will leave interest rates unchanged which further strengthens the bullish case, even with rates currently at 0.0%. Other potential bullish catalysts would be if US unemployment and retail sales surprise to the downside. Three out of the last five reports for both of these data releases have been negative so I'll just be patient and let the market make it's initial reaction and proceed from there.
Trade closed manually
Exactly what I expected to happen intraday. After making a small dip early in the london session price bounced back up after the news releases and now re-testing the area of june highs. I did take a loser early on though but re-entered and was able to recoup some of the loss from getting in a bit too early. Overall positive week so far.
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