FX:EURUSD   Euro / U.S. Dollar
395 9 33
Comment: mmmm
Wait US data I guess.. but I have no predictions for that...
Will consolidate for a while before upwards.
+1 Reply
Marc_lux elbistan
Maybe ranging in accumulation before next bull move to 1.70-1.80
Look at 1Month chart since ERM introduction (IDC chart). Prior bear market stopped at 38.2% correction from 1.45 in 1995. Then we saw an accumulation phase and a bull market to 1.60.
We're ranging now around that same fib level since jan 2015, the 38.2% correction from 1.60 high in july 2008.If you only look at € data without ERM, you might think bottom is at 0.80. But for me, it's already ranging far too long around 1.10 for it to continue the bear trend. But hey, just my educated guess.
That's the question!
habibzafari14 sjcwealth
The market is in indecision and I myself do not jump into market if I missed an opportunity. That is why, instead of looking for continuation, I am looking for reversal. I will wait for confirmation and then place my trade
sjcwealth habibzafari14
That's exactly what needs to be done to be successful.
I am looking for reversal.
sjcwealth habibzafari14
So do I but I have the feeling it is going to be a long uptrend before we get a massive downtrend today.
It keeps making higher highs even on the smallest time frames
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