pete002

EURUSD at trendline support

FX_IDC:EURUSD   EURO / US DOLLAR
221 3 5
Interesting times for the EURUSD             .
Here we are at trendline support

The monthly chart shows us 9 consecutive months of bearish price action - will April be 10 mths ? - we are under trendline as of today.

Month is not over yet so there is a possibility for the April candle to close above the drawn trendline.

We also see a 0.7071 (sqrt of 0.5) bounce at trendline - will current price action repeat history ?

I will wait for the completion of the April candle with interest.
pete002
2 years ago
May 01, 2015 update

Completion of April monthly candle shows reversal off trendline (and .7071 "level") hitting 61.8 retrace level @ 1.12032.
Price finished the month @ 1.12125 and by my read its a monthly bullish engulfing candle based on candle body.
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pete002 pete002
2 years ago
Looking for further bullish action in EUR this month.
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Piet.Hein
8 months ago
Amazing analysis!
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