Since November 1st we have tried to correct the uptrend a fourth time now. First was on 10th, second on 17th and on 22nd the third one . The 3 previous have failed. Now we are amidst the fourth.
Each of the tests have ended with higher lows, i.e. they have confirmed the uptrend.
The whole trend is almost 2 month old now.
Due to one confirmation after the other I expect the trend to continue a while and to try to fulfil
the most likely Fibonacci retracement of the long decline from mid July until 2nd October in the next weeks.
By the way, on November 14th we had passed the resisting MA which became a support now and could not be tested again since then.
Each of the tests have ended with higher lows, i.e. they have confirmed the uptrend.
The whole trend is almost 2 month old now.
Due to one confirmation after the other I expect the trend to continue a while and to try to fulfil
the most likely Fibonacci retracement of the long decline from mid July until 2nd October in the next weeks.
By the way, on November 14th we had passed the resisting MA which became a support now and could not be tested again since then.
Comment:
The headline is a bit misleading. The subtext makes it clear: I am bullish on the Euro.
Trade closed: target reached