Thursday 20 November 2014

EUR/USD Correction continues.




It looks like the EUR/USD correction might last longer than I expected. The pair is slowly crawling towards 1.2615 – 1.2620 but the market is so uncertain that buying now means undertaking a considerable risk. Personally, I think the best approach would be to wait until it reaches the resistance around 1.2620 and then watch for any signals that it is about to start descending again, since I do not think that the bearish trend is over yet.

On the other hand it’s still not too late to buy again if you’re trading USD/JPY, because the bullish trend there appears to be as strong as ever and it will likely reach 119.50
Posted by at
Labels: , ,

6 comments:

  1. Unknown20 November 2014 at 14:04

    It has formed what it looks like a bearish flag.

    ReplyDelete
  2. Anonymous21 November 2014 at 01:14

    EURUSD consolidated during the course of yesterday session, testing the 1.25 level for support. Ultimately if we can break down below the 1.25 level, we would be all bear coming in the market. A break down below the 1.25 level should send this pair to the next support level at 1.2350.

    ReplyDelete
  3. Unknown23 November 2014 at 03:15

    Very nice thank you very much.

    ReplyDelete
  4. bewayopa23 November 2014 at 11:45

    Caution is the watchword!

    ReplyDelete
  5. Unknown23 November 2014 at 14:13

    I'm watching this pair, let's see how will it closed this week.

    ReplyDelete
  6. Unknown23 November 2014 at 14:35

    I will keep eye on this pair.

    ReplyDelete

Subscribe to: Post Comments (Atom)