The EUR/USD
pair formed a marubozu candlestick pattern on the daily filter chart and, as
expected, began descending again. Time will tell whether this new descent is
part of the overall bearish trend or just part of the correction that has been
dragging on quite a while now. To be perfectly honest, considering the time of
the year – the approaching Christmas and New Year holidays – I expect the
market to move exceedingly sluggishly and we might have to wait until January
for any big changes to happen.
I think it's safer to wait until January before making any long term plan.
ReplyDeleteI agree with your point of view/
ReplyDeleteVery good post. The analysis of candles standards and very reliable
ReplyDeleteThe past several days has seen EURUSD enter a sideways consolidation pattern between 1.25-1.24, perhaps before the all-important US CPI data out today, which is expected to heavily influence the Fed’s interest rate timeline.
ReplyDeletenice formation.
ReplyDelete