[ronburg]

Hi Dave,

Was wondering if you could give your 2p on this... After the big fall the Euro had yesterday, I have been keeping an eye out for a reversal short term which might be tradable. For example in the attached i've found two cases now where we have MACD divergence suggesting a short term switch of direction? Is it common practice to check the currency against lots of pairs to see it's global strength as well as the individual currency pair you're trading?

Best Regards,
Dave / Ronburg

[David Waring]

Hey Dave,

Love being able to see the charts man good work. Yes that looks like MACD divergence to me. Anything else about those charts telling you that it may be a good long here? How are the longer and shorter term timeframes looking from a trend standpoint?

Also, yes looking at a currency against multiple other currencies to get a feel for its overall strength in the market is advisable and a common tactic.

Best Regards,
Dave