Daily analyse:
The biggest box is the actual struggle zone where the euro can fight. The upper box inside of the big one is the place where the market is likely to reverse down "if it goes so high".
Looking to the indicators and the trend, the eurusd is likely to continue it's move down.
This is not trade advice.
The biggest box is the actual struggle zone where the euro can fight. The upper box inside of the big one is the place where the market is likely to reverse down "if it goes so high".
Looking to the indicators and the trend, the eurusd is likely to continue it's move down.
This is not trade advice.
Comment:
Why "struggle". Because the macd is still above the zero, although its a very weak signal at this time. The multiple stochastics are suggesting a rebounce but also weak. This is because the 16 main crossing below the other signals line's which suggest the price may try to go up, but all the signal line's are very confused and also not going upward. There is also a possible so called fishnet forming which means undecision. The price may thus struggle in this zone. The main trend is down. But it's not sure that today we will see the price fall deeper although it can fall deeper. After the fishnet is formed we'll have to look close to what will be possibly next. Or the market will try to regain enough strength to go up or it will make a try (weaker or stronger) and then fall to new lows.
Comment:
I'm pretty happy to have taken the right direction early this morning. Using trailing stops of course :-)
Trade closed: target reached:
I was stopped out at 1.921 when price moved up
Comment:
break even 0 loss
