Seems that this pair tends to make new minimums. I believe that it will happen during next 2-3 days. It is the most probable scenario while price is in descending channel...
EURUSD is probably forming Pennant under resistance zone.
Look for bullish patterns near lower generating line of Pennant.
Stop-loss under green support zone
Main downtrend was broken yesterday.
Market started with breakaway UP gap => indicator of bullish power.
Better to wait confirmation/ At least +2 days for forming 3-rd bottom.
Look for bullish patterns between 68 and breakaway gap. Buy with target zone 70-71.8. Stop under breakaway gap
38.2% FIBO zone haven't showed any bullish reversal patterns yet. Price continued downward correction.
Next potential target could be near 35.5 (green support zone).
Keep shorts, if you have it + tight stop-loss, because this downward movement can end suddenly (impulse system already allows buying)...
In the third part of April-2016 OPEC will make a try to agree on fixing current oil production and limit oil supply in the world. I wonder if they will succeed to do it. It will be another crucial decision for the oil market and its derivatives …
Technical analysis of WTI future contracts gives us the following results:
Current contract. 4 hours
• Oil is at...
After seeing @DorofeevML's idea, I decided to do a little re-analyzing. One thing I've learned over the years is that finding points of confluence is very important.
Green box = Target 1 - We can trade within in the range up until 300, which is: 1. A huge psychological number. 2. A point where we can see the wedge break. 3. Overhead resistance from the...
