After the
non-farm payrolls on Friday EUR/USD suffered another big drop – almost a
hundred and twenty pips – but it seems that today we might see some pullback,
which is only natural. There is a doji both in the daily and the four hour
filter charts and the price has started climbing. Personally, I think that for
now the target is 1.2580 – 1.2590. That said, the trend is still bearish, so
after the pullback ends it will likely continue its descent. As I mentioned on
Friday, the long-term target is most likely 1.2030, or 1.2000, perhaps even
lower.
The dollar rose to a high of four years against other major currencies in September.
ReplyDeleteAnd the movement seems to continue.
Very good analysis, thank you.
ReplyDeletethe downtrend is still in place and it could continue heading lower.
ReplyDeleteEURUSD broke higher during the course of yesterday session, testing the 1.2650 level and closing above the 10 day moving average. We could see sellers coming in between 1.2750 and the all-important 1.28 handle.
ReplyDeleteStill bearish trend as long as trading below 1.27.
ReplyDeleteCorrection starts.
ReplyDeleteThank you for this post. Very Helpful.
ReplyDelete