It is
Monday and as usual nothing interesting happens on Monday. The market appears
quite calm and the EUR/USD correction slowly continues. As I suspected on
Friday that drop was only temporarily. Personally, I think its current target
is 1.2870, perhaps 1.2900. That said, I am still not convinced that the
downward trend is over and that this is a reversal, so I think I should be on the
lookout for signals that the EUR/USD descent is about to continue. I believe
that the long-term target at 1.2200 or even at 1.2000 is still quite valid.
Congratulations for the analysis, it´s very useful.
ReplyDeleteWe could see a pick up in volatility for this week.
ReplyDeleteEURUSD fell during the course of the day on Friday, continuing the bearish pressure that we have seen for quite some time. The market tested the 1.26 level and found enough support. However, the market technically is bearish overall but is holding above the 10-day moving average so expect short term bullish correction to continue.
ReplyDeleteGood job , I liked it.
ReplyDeleteThat's good analysis.
ReplyDeleteAnother ranging day.
ReplyDeleteAlways enjoy… Thanks!
ReplyDelete