TheShakeOut

EURUSD: Demand overcoming supply below key levels

CME:E61!   EURO FUTURES
The chart tells a story and the story unfolds bar by bar.
Hi Jorge, thank you so much for updating your chart, this pair is extremely overbought in daily view. However it is just an early state of green bars showing 1st wave of buyers after a long oversold market, I'm not sure how long this short term up trend will end, it might takes months. It's hard for me to counter this new trend.
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TheShakeOut MIchaelTran
Thank you for your comment @MIchaelTran75. I would not consider it overbought, it is trading around the center line of the uptrend channel. I still expect higher prices because there is no serious weakness at these levels. It is going to be interesting seeing how the market behaves as it gets closer to 1.1570. The market seems to be driven by the selling climax on 2015.03.11.
+2 Reply
love your posts as a sign of confirmation for mine. Keep up the good work!
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TheShakeOut christos.p.nikitopoulos
Thank you for your comment @christos.p.nikitopoulos. Stay tuned for daily updates of this analysis. Regards.
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excellent work
+1 Reply
TheShakeOut JamesKabyemela
@JamesKabyemela. Thank you for your comment, I really appreciate it.
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