EURUSD has been falling down as fast as it was going up. Currently it's sitting at an inflection point: if it continues lower, it will probably break through the 1.1 level and test the lower border of the channel. However the support coming from two intersecting trendlines, after some vacillations, may give it at least a temporary stop, allowing for some correction to the upside.
Comments
moorekapital
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BIG UP: BIG DOWN = BIG CONFUSION = TRADING RANGE NEXT! Now we're waiting for that equal fall to where we started from.
ForceFollower
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Thank you for your comment.
Yes, the odds seem to be stacked against the buyers. But as you said, there is a big confusion about this market now. We're dealing with an uncertainty, but anyway I expect a small correction, a rally at least up to 1.13, before the further decline resumes.