Tuesday, 23 September 2014

EUR/USD Might Be Heading Up




Despite my predictions that EUR/USD will continue falling it appears that this pair is indeed quite oversold. I admit I am a little disappointed. The pair could not break below the support level at 1.2800, a marubozu candlestick formed in the daily filter chart and EUR/USD slowly started climbing, so it looks like we are headed for some correction before the pair continues on its way to 1.2700. Personally, I think the target is 1.2950, perhaps even 1.3100, although the long-term trend still remains bearish so I will wait for the end of the correction and I will short again.
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6 comments:

  1. Unknown23 September 2014 at 20:15

    It could be heading for a correction.

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  2. Anonymous24 September 2014 at 07:21

    Well spotted! I'll be careful.

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  3. Unknown24 September 2014 at 09:48

    I think eur/usd will continue falling.

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  4. Unknown24 September 2014 at 14:15

    Euro will have interesting week.

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  5. Anonymous26 September 2014 at 10:45

    Good point, now I want to be watching developments.

    ReplyDelete
  6. Unknown26 September 2014 at 13:42

    Even Draghi said that the euro is weak.

    ReplyDelete

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