The doji
candlestick that formed yesterday in the 4 hour filter chart did indeed signify
a reversal, although I still believe it is only temporarily. EUR/USD is headed
for 1.2980, which is a resistance level. Should it break above that resistance
level the target will likely be 1.3000. However, I think that once it reaches
1.3000 (IF it reaches 1.3000) it will begin its descent again. Personally, I
think it is a little too early for a more long-term correction, but then again,
everything is possible. We will have to wait and see.
Very informative! Thanks.
ReplyDeleteVery Good analysis.
ReplyDeleteEURUSD had a fairly peaceful session consolidating around the vicinity of 1.2880 to 1.2960. The pair is seems to be appealed to the 1.29 level, ultimately this market will break out to the downside and if we do, the market should aim for the 1.28 level. The 1.30 level shows a significant resistance and as a result look for short-term candles that show signs of selling.
ReplyDeletestill in a consolidation
ReplyDeleteI agree with your point.
ReplyDeleteAwesome. Thanks for the info!
ReplyDeleteStill bearish.
ReplyDelete