This currency pair can’t seem to make up its mind. I’ve been watching EUR for a few weeks waiting for momentum to give us a clue as to its next move. The GoNoGo Oscillator has been riding the zero line for all of April. Typically, when the oscillator spends a long time at zero the next significant move is powerful. The GoNoGo oscillator hits zero when momentum across all inputs is neutral. As we know, after a squeeze in volatility we are likely to see a breakout.
Today, after several neutral amber bars, the GoNoGo Trend indicator has renewed its “NoGo” trend. If the GoNoGo Oscillator can confirm this with a significant break into negative territory then we would expect a move to at least test the March lows.
Today, after several neutral amber bars, the GoNoGo Trend indicator has renewed its “NoGo” trend. If the GoNoGo Oscillator can confirm this with a significant break into negative territory then we would expect a move to at least test the March lows.
