Not ready to commit either way on this one here, yet it seems there might be some evidence that we have pivoted on USDEUR. It's not convincing, yet I will be watching this one with intent to see if this pair will turn to impulse. As always, not financial advice
Provided DXY can clear the inclined resistance, we will see a re-visitation of the 93-94 level, with real consequences across the board for commodities. Continuation of a bearish downtrend should resume if this plays out into February, with a deciding point potentially playing out into August. Fundamentally I expect a year of spending/money printing to weaken...
Now it seems sideways. * Disclaimer: I just shared my view. Please trade with your own and comfortable ideas.*
WHAT DO YOU THINK? IT WOULD BE VERY BULLISH IF WE CAN BREAK THE WHITE TREND LINE...
Please share your opinion
USDEUR - Big RECOVERY RALLY - Coming Soon
EURUSD in the coming week
Current 4H candle might become a small sell signal (at first). Think if the current 4H candle closes below 1.213, we should see a bit more downwards pressure. Past day i had in mind, that if it doesn't break 1.22ish, there is a still a chance that the breakout of past weeks might get stopped and see some zig zagging coming weeks or more. So needs a close below...
Update on the previous analysis: Previous analysis i said: Current 4H candle might become a small sell signal (at first). Think if the current 4H candle closes below 1.213, we should see a bit more downwards pressure. Past day i had in mind, that if it doesn't break 1.22ish, there is a still a chance that the breakout of past weeks might get stopped and see...
It seems like a correction to ABC. I have three levels that I think we might temporarily correct to in what is otherwise a bigger correction. I am watching for 0.850, then 0.852. 0.856. Not financial advice.
Here is another index chart USD vs EUR and Chinese Yuan combined (two biggest trading partners of the USA) from which you can see massive bearish engulfing after price broke yearly floor. Even more bearish breakout from consolidation is observed on USDEUR*USDYJPY chart. You can not see this well if you look just at EURUSD or DXY (which does not even include Yuan)...
I expect eur/usd to move very similar to how i have charted it out here, with a pullback then trend continuation. Final post! been a great 100 trades thousands of pips made! hope ive helped along the way! thanks for your support
92.86 DXY WILL likely be the high look for reversal in euro/usd any time now.