The range
in the EUR/USD chart continues after the market opened with a 40 pips gap
yesterday. The question is, will it recover the aforementioned gap before it
continues further down or will continue falling with no correction at all? The
market is oversold and shows signs of exhaustion, but I am yet to see any sort
of a signal indicating that a correction is about to begin. That said, a
possible correction is likely to reach at least 1.3300. On the downside, the
target, I believe, is 1.3100. At this point, however, I still feel too
uncertain to buy or sell.
Yep, we might as well back in ranging period.
ReplyDeletei think the price is near rock bottom, even with the strong american data the down trend lose momentum fast.
ReplyDeleteI agree with the analysis, good point. Uncertainty is in the air.
ReplyDelete