To illustrate today's analysis, I propose a model of statistical discrepancy on currencies, in order to justify who is the real leader of the financial markets, which seem to accuse a global pre-slowdown of the financial markets. So I gathered a basket of generally aggressive currencies to which I oppose them to a basket of defensive currencies; After algebraic...
I am looking at a Long Position to 113 TVC:EXY
Based on the Harmonic Pattern Drawn, I look for the Retracement of the final leg (D) to go 50% on Fibonacci which lies around 113 range
This is not a recommendation to take this trade
This trade was posted for educational purposes only
... Before finding a convincing bottom.
Listed Spain, Fance, Germany, Denmark, Sweden and Finland divided by 6 and by euro index.
Not trading advice, just an idea to see new points of view to the situation.
The Euro is at a key level and a .618 fib. If we have a close above 113/114 for the month of December, I'll be leaning towards Bullish momentum for the beginning of 2019.
It has formed a weak falling wedge shape on the monthly, but a falling wedge none the less.
Analysis for this is pretty simple, majority of it can be explained on my chart.