Monday 23 March 2015

Correction Continues for EUR/USD




Just as I suspected last week, the EUR/USD correction is not over yet, because the pair is climbing and it doesn’t look like it will stop before it reaches 1.1140. That used to be a support level for EUR/USD and it is very likely it will now become a level of resistance instead. I am hardly surprised, the only thing I was not really expecting was for the pair to start climbing on Monday. In my experience Mondays tend to be terribly uneventful when it comes to this pair, but I am not complaining – the more it climbs, the more I profit from my long positions.

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5 comments:

  1. Unknown23 March 2015 at 14:12

    good correction so far.

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  2. Unknown23 March 2015 at 16:12

    1.100 become very strong psychological level for the moment.

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  3. Anonymous24 March 2015 at 02:46

    Short-term the trend is extremely bullish and the bounce has taken the shape of a v-shaped correction (strong bullish signal), but the Euro structural problems remain along with the longer-term downtrend.

    ReplyDelete
  4. bewayopa24 March 2015 at 16:40

    The short term trend is positive

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  5. Unknown26 March 2015 at 07:22

    Correction movement is not over yet.

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