EURUSD teetering on the edge of a breakdown?
After an impressive run-up since March, Euro has been showing some signs of weakness lately has made a lower high on the Daily.
It then went on to break a shorter-term channel.
Now after a corrective move sideways again on the shorter timeframes it now looks to be about to fall off a cliff IMO.
If it finds some support here we could get another test of the channel low before the market decides its next move.
Disclaimer: just ideas, no crystal ball, not advice, do you own research
It then went on to break a shorter-term channel.
Now after a corrective move sideways again on the shorter timeframes it now looks to be about to fall off a cliff IMO.
If it finds some support here we could get another test of the channel low before the market decides its next move.
Disclaimer: just ideas, no crystal ball, not advice, do you own research
Comment:
After a beautiful sell-off, looks like Euro has found some support around the top of the previous channel. Notice the evidence of buying activity in the candles (big wicks) around these levels? That was enough to make me take profit. Now we wait and watch for the market to reveal its next move...
