Tuesday 16 December 2014

EUR/USD Reached Strong Resistance




Despite the marubozu candlestick on the daily filter chart the EUR/USD pair continued on its way up, proving that the correction is not even remotely over yet, eventually reaching the strong resistance level at 1.2570. At this point we will have to either wait for a signal that it is about to start falling again or wait for it to test and then break above the aforementioned resistance. In case it does break above the 1.2570 level I think it will reach target 1.2730, although I am assuming that will happen in January.
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6 comments:

  1. Unknown16 December 2014 at 09:57

    Great analysis

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  2. Unknown16 December 2014 at 15:49

    not enough strength to break it.

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  3. Anonymous17 December 2014 at 02:17

    EURUSD rose during the course of yesterday session, but lost steam just above the 1.25 handle. A break below the yesterday low we should see sellers coming into the marker and could then head to the 1.2250. The yesterday close above 1.25 handle may trigger a short squeeze.

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  4. Unknown17 December 2014 at 16:21

    I'm not sure this is trend reversal yet.

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  5. Unknown17 December 2014 at 17:51

    Anything can happen from now.

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  6. bewayopa20 December 2014 at 17:38

    Too risky at these level

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