Look at this, Draghi did it again. He managed to bring the balance in favor of the Euro. Nothing changed in the monetary policy for the moment, and the ECB seems to be quite optimistic in what concerns the EU economy. EURUSD rallied after a false breakout, and the chart shows a symmetry. The Flag type pattern fooled me again. From the basic technical analysis a flag should have lead to a continuation, this time, just like the other one (near the rejection line of the down channel) lead to a reverse in the direction of the price. I would now stay attentive at an overbought euro, which got close to 1.3630 resistance and keep my eyes on a corrective move.
Comments
Ryan_Tyler
⋅
I would like to see 1.37 Soon with this rally. :)
Sam0101
⋅
so u buy to 1.363?
Razvan
⋅
wait for a dip! it is safer
Sam0101
⋅
so its will rally to 1.368?
Razvan
⋅
It already went above its daily range, I don't know if it will hit that level today, but this up move can continue to 1.37.