Last 2 weeks eur/usd have been trading down in broad bear channel , after election spike, forming wedge bottom at measured move target and double/trip bottom (on weekly chart). After a break of channel,we look for transition in trading-range ( TR ) for 1-2 weeks. Break of the channel is transition from trend into trading range. Bulls will target previous lower high's and possibly the start of the bear channel .
Comment:
Yesterday bears failed to break below trading-range, and made double bottom with nov 24 lows.Likely to test upper half of trading range now and reach some lower high bull targets which i highlighted in the chart.
Comment:
They they it's all talking... doubt me now...doubt me now.
