I just came
home, took a look at the EUR/USD chart and I noticed that there is a doji
formed in the four hour filter. Now, a doji does not necessarily signal a
reversal and I believe the trend is still very much bearish, but I think we
might see some pullback or consolidation before EUR/USD continues on its way
down. It will likely reach 1.2935 or even 1.3000 (if it breaks above the
resistance at 1.2935). Either way, I doubt such a pullback will last for a long
time. Personally, I will use the opportunity to sell again once it has climbed
enough.
EURUSD is trading under 1.29, continuing the downfall. The pair reached a low of 1.2881 yesterday. The latest leg down can be associated with strength of the greenback that reached high levels against many other currencies. But a correction is due.
ReplyDeleteIt could be just a small correction.
ReplyDeleteEURUSD made a fresh low during yesterday session, but the 1.2850 level has offered enough support to turn things back around and pushing prices up. With that being the case, the market looks like it could make a correction to the upside, but the 1.30 level will bring in significant resistance. The resistance may offer short-term selling opportunities in this currency pair that is most obviously bearish.
ReplyDeleteGood point, it´s important to be watching developments.
ReplyDeleteJust a correction?
ReplyDeleteAwesome. Thanks for the info!
ReplyDeleteI believe it's just a correction.
ReplyDelete