Friday, 9 January 2015




It looks like EUR/USD could not break below the support at 1.1750, formed a hammer candlestick and then a double bottom, both visible in the four hour filter chart, and then started climbing. It appears that there will be some correction, which was to be expected, considering the long bearish trend. It will likely reach target 1.1920, where there is pretty strong resistance also visible in the four hour filter chart. I doubt correction will last long or that the double bottom signifies a reversal – the trend is still very much bearish.
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7 comments:

  1. bewayopa9 January 2015 at 15:17

    Very Good analysis. Has he reached a bottom?

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  2. Unknown9 January 2015 at 17:57

    looks like a small pullback may take place.

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  3. Unknown9 January 2015 at 18:23

    Correction movement in place.

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  4. Anonymous10 January 2015 at 02:00

    I remain short-term bearish under 1.1850 but risk of an oversold pullback is too great to get a solid reward/risk setup here.

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  5. Unknown10 January 2015 at 19:50

    Let's see correction will continue next week.

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  6. Unknown11 January 2015 at 04:14

    very helpful, thank you.

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  7. Unknown12 January 2015 at 12:11

    Thanks for sharing your view.

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