Support 8650 from possible Double Bottom (with January Lows) has held now for 3 Weeks,
trading in a 200-250pips Sideways Range.
But comparing the actual Price Action to that in January (where price has rebounded bullish within 2 weeks) and a look at the last 2 Weekly Candles should worry all want-to-be Bulls.
What will happen next? Will EUR stabilise and rise up from the Triple Bottom,
or will the Big Level of 1.4000 get broken?
And if it breaks below 1.4000... will it be a quick, nasty sell-off - just to reverse within next 24 hours?
(Im not going to trade this with real money or just with a very small lot size)
Price is pretty wild going up & down around current Levels... maybe because of multiple Fib Levels there
But possible it is forming at V-Shape Bottom, so im going Long at current Levels with good Risk/Reward Ratio
I will go Short again if Price is rejected again at/around 110.00 Level...
- if making Double Top with last High at 110.08
- or breaking above last High, but showing Rejection Candle such as Shooting Star (Pin Bar) or Bearish Engulfing