reneordosgoitia

EURUSD dressed of Gartley pattern

FX:EURUSD   Euro Fx/U.S. Dollar
100 3 3
The EURUSD             , for many days, had been in a downtrend rally, expecting a interest rate cut from the Federal Reserve . However, many events changed that perspective:

* the disappointing data in employment created on May.
*Brexit on June.
*the insignificant quarter GDP growth.

Those factors are creating new expectations about the federal rate hike for thi year, iincreasing each time more bearish investor on the USD. So it will be the force, those sentiments, that are going to impulse the EURUSD             , to the upside direction.
looks plausible although that august decline seems too deep.
+1 Reply
For May it tooks 24 days to go down, June 12 days, If it goes that deep, would expend like 20 days in average.

Cheers.
Reply
AlbCM reneordosgoitia
I am not talking about the duration of the decline, it seems ok (see my chart, we are on the same page here). I doubt it's going lower than brexit lows as your chart suggests.
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