Despite my
hopes that the pair EUR/USD would break below the support around 1.0470 it
failed to do so – in fact, it couldn’t even reach that level before it formed a
spinning top candlestick and started climbing again. It is possible that the pair is just
testing the support before breaking below it, but I’m afraid that my prediction
has come true and the pair has formed a double bottom and the consolidation
will continue for a while longer. It’s possible the pair will continue climbing
until it reaches 1.1000 again, or even break above that level and reach target
1.1200.
The analisys is very good and interesting to read, thanks!
ReplyDeleteGreat assessment. I'll keep a close eye on it.
ReplyDeleteLooks like it.
ReplyDeleteConsolidation continues above 1.0600 level.
ReplyDeleteHrmm... Very important post.
ReplyDelete