As I have
been predicting for quite a while now, EUR/USD reached the 1.2700 level after
it broke below the support at 1.2800. And not only did it reach 1.2700
but it even broke below that level. That doji candlestick in the daily filter
chart had the expected results, despite my doubts.
Now the
question is what happens next? Will this pair continue on its way down or will
we see a reversal? Personally I think that there will be a correction, but once
that is over, EUR/USD will continue descending, although I think it is a little
too early to tell what the next target will be.
I'm happy! My 1st target was reached. Still open TP2 @ 1.26.
ReplyDeleteEURUSD initially fell during the course of yesterday session, but found enough support just below the 1.27 level to turn things back around and form a hammer pattern. The hammer of suggests that we could get a bounce. If we can get above the 1.28 handle, the market will then head to the 1.30 level, with the area continuing to offer significant resistance.
ReplyDeleteExcellent analysis, you hit the essence.
ReplyDeleteI did the same , short sell .
ReplyDeleteprice keep falling without stop, and still no sign of a reversal
ReplyDeleteGreat Article! Very useful info!
ReplyDeleteYes, euro is still very weak, still keep falling.
ReplyDeleteNext week, correction or keep falling?
ReplyDelete