- Here is what I think will happen...
- In the following few weeks if not months the trend will be bullish
- It broke the momentum and started to trend upwards
- We will see the results in the near future
1. From the look of my analysis, the last candlestick has touched the resistance line. Therefore, the chart itself may be getting ready for a reversal to a downward trend.
2. It is also considered as "overbought" and seems the bears may be turning the table around this following week.
3. Be cautious and use your judgment to determine a trade.
1) According to my speculation, I have drawn out my thought reasoning and I believe EUR/USD has reached its "peak" by touching my resistance line.
2) Therefore, I now believe it will generate a down trend to the support lines.
3) This is a trade I personally am taking, however, be cautious and use judgement on your trades.
- The trending market is a downtrend.
- This might be a trending market...as long it keeps bouncing from support and resistance line.
- A few days ago it was in consolidation and just recently it broke out for a sell.
- We can wait for the London/NewYork session to open, so one can see if it respects the current candle pattern.
- After all, a few days ago it...