It is
another slow, relatively uneventful Monday for the EUR/USD, which is
consolidating after the drop last week. The pair formed a doji candlestick in
the four hour filter chart after a small move to the upside, but only time will
tell whether that is part of the consolidation or a genuine signal that the
pair is about to continue on its way down. Actually, I have little doubt that
the bearish trend will continue, but I am not so sure whether that will happen
in the next 48 hours. All I can do sit and patiently wait and keep my short
positions open.
well it's normal after last week drop.
ReplyDeleteVery Good analysis but to risky at these levels…
ReplyDeletemore drops could be seen on the pair.
ReplyDeleteYesterday the EURUSD initially rallied but found enough selling pressure at 1.0906 to turn around and close near the open of the day. If we were at a bottom this could be a signal that the price was ready to reverse by the inverted hammer pattern but this is not the case and a break below Monday’s low would signal a continuation of the bearish trend.
ReplyDeleteI agree with you, more down son.
ReplyDeleteFurther decline is expected.
ReplyDeleteEur/usd remains increasingly bearish.
ReplyDeleteGreat Information! Thanks!
ReplyDelete