As I
suspected, EUR/USD did form a double bottom yesterday, which had the expected
result and the price started climbing. I think the target is 1.2700. That said,
later today EUR ECB's Mario
Draghi will speak
at the rate decision press conference and the non-farm payrolls are on Friday, so
the market is expected to be pretty volatile for the rest of the week, in which
case making predictions is somewhat counter-productive. We will have to wait
and see what effect these events will have and then make a decision.
Great post! I agree with your view.
ReplyDeleteThe EURUSD had a narrow range day yesterday and is likely sidelined waiting for today’s European Central Bank (ECB) interest rate decision and monetary policy statement and press conference.
ReplyDeleteA lot of indecision at the momment.
ReplyDeleteand it did reach almost 1.2700 before the U.S unemployment rate hit the price
ReplyDeleteNice stuff. Keep it coming.
ReplyDeleteWe will see about the correction.
ReplyDelete