I drew a "M" pattern using the Ichimoku Cloud on the 4 hour Bar and I think that the EUR/USD could break to the upside and test old Resistance which is now the new support at 1.35582. The EUR/USD was in a clear Bull channel, but then the channel broke. It has now moved sideways, but I think that it could be about to break to the downside. If the EUR/USD break 1.37, then I think it could sell off 150 Pips in a hurry and not find buyers. I am looking to Short it until I see the break on the downside on my "M" pattern. Thanks and for more ideas check me out at keeneonthemarket.com
Comments
LevRidge
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Euro is going up to 1.395 then pull back before going to 1.42 in April... look for a massive move down then
ChrisMoody
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Great Info....I posted a Weekly Chart Yesterday on the EURUSD Yesterday....This analysis lines up perfectly going from an extreme multi year technical pattern on a Weekly timeframe, and taking it down to what is happening today....