After the
movement to the upside yesterday EUR/USD returned to its previous levels. I confess I am a little disappointed,
especially considering that it appears that it is now back in consolidation
mode. Frankly, at this point I feel far too uncertain to make any sort of
predictions. I will have to wait for a proper signal before I make any
decisions. That said, the doji candlestick in the daily filter chart might be an indication
that EUR/USD will continue its descent if it breaks below the support at 1.2810, but at this point the trend appears to
be exhausted, so I am not sure how reliable that signal is.
EURUSD broke higher during the course of yesterday session, but found enough resistance near the 1.29 level to turn things back around also the 10 day moving average is pushing the pair down. However, if we close below the 1.28 level, this pair will continue to drop from there. Rallies on short-term charts will continue to offer selling opportunities all the way to the 1.30 level as far as we can see.
ReplyDeleteHere goes 1.28 level.
ReplyDeleteNext target will be 1.27 level.
ReplyDeleteGreat report and analysis, thanks
ReplyDeleteVery good! Thanks.
ReplyDeleteVery Good analysis.
ReplyDeleteGreat analysis, thanks.
ReplyDeleteyeah the best thing is to be neutral
ReplyDelete