Yesterday I
was hoping that the marubozu candlestick in the daily filter chart was a clear
indication that EUR/USD would continue its descent, but as it turned out its
effect was minimal and the consolidation continued. So I drew both trend lines of
the bearish trend and when I did this I realized that it has headed for the
upper trend line. I think that once it reaches it we will have to pay close
attention and wait for any signals that indicate another drop, because I
believe once that happens, it will head for the lower trend line, where,
coincidentally, is also the support level at 1.2700. Of course, we’ll most likely have to
wait for FED tomorow for these developments.
Yes, most likely.
ReplyDeleteYes, tomorrow is the key.
ReplyDeleteWaiting for Yellen
ReplyDeleteYesterday the EURUSD tested the 1.2988 key level and bounced off it but closed above the 10 day moving average. The pair looks like is developing a bearish flag pattern but without any confirmation yet.
ReplyDeleteVery good article
ReplyDeleteNice thanks.
ReplyDelete