EURUSD - Daily - Early Evidence of a bottom forming here

FX:EURUSD   Euro / U.S. Dollar
820 12 7
Note how it has been more than 5-days since the low was formed = 1 reason to be reduce bearish opinion.

Note that the market is above the "lowest high" not only from the decline, but also from the days just since the low was made. (See purple line).

The downtrend has been strong and steady - with all the declines making the target and more.

An outright buy signal is close since there are 6 days at that purple line and the market is currently above that price. The day isn't over, but I'm giving you a heads up early.

The measurement is the low 1.2500 to the mode at 1.2673, .0173, projects a move to 1.2846, which puts the market back into the last mode near the 1.29 level.


10:55AM EST 10/13/2014
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1.29 was the key level - mode - 12 day mode - exited on that spike to that level.
+1 Reply
Brilliant! :D
Timing is key IvanLabrie
Well done Tim, great call on the Euro ending with the spike on US PPI News. Your chart also validate my analysis and trade on the Aussie.....Thanks
timwest Timing is key
I re-entered here at 1.2777 and looking for a move later today into the NY close.
+1 Reply
And it did move. Managed to get in at a not so bad price, I'll wait till tomorrow's open now.
+1 Reply
timwest IvanLabrie
1.2822 last ... 1.2840 high...
+1 Reply
My exit was at .2835 myself. Quick 30 pip run.
timwest IvanLabrie
+1 Reply
I just banked 1.2875 - Thank you
+1 Reply
thanks timwest
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