EURUSD going down towards 5-month bottom of the consolidation pattern. Don't think we'll see a break but it will definitely offer interesting (long-term) buying opportunities.
Comment:
Thanks for all the likes! Here a more long-term view on why it is very unlikely we will see a break below ±1.2 ish. It hasn't been below that point since June '17
Comment:
Price seemed to have bounced from expected levels. Personally, I am still awaiting lower lows and don't feel confident enough yet to open large long-term entries on this pair until we have reached the bottom. Especially given some good USD news, it's not strange that the EURUSD pair is gaining. More bullish momentum would signal we would go back to the top. However, I want more assurances first.
Comment:
Even though the price action might seem extremely bearish, we're still pretty good. This is all mostly due to the news-based rally of the USD 2 days ago. This is a great spot for buying dips above the 1.12 line. No break means that we are likely to go back to 1.145 again