M) H&S + Key level + 61.8%
D) Trendline + S&D + 78.6%
Fudamentals won't make it easy, but I expect technicals to alignt with volatile news by thursday and friday.
LL made, Fakeout of Key level.
I expect last leg of W pattern, TP1 78.6% = 1.4800
Last leg 61.8% Rejected, TP2 -27% = 1.15200
Positive volatile news expected for Euro(Germany) on Monday,
could be an opportunity to make this trade risk free.
Next short term resistance + S&D zone = 1.3565
Key Levels: 154.500, 141.750, 129.000 (closes in line chart)
Monthly: January candle made a fakeout of the 141.750 because of the Brexit and stopped at previous demand area.
Weekly: H&S, Take profit is determined using Fibonacci -27.20% and institutional level 143.800.
Daily: Double bottom made.
4H: explosion from the fakeout, expecting pullback to key level...
Bearish Pennant broken by the downside, retest of the trendline where we have 61.8 Fib and Institutional level of 1.1350.
COT report EURO FX - CHICAGO MERCANTILE EXCHANGE : Non-commercials long contracts: 146,082 / Non-commercial short contracts: 202,369
IPC EURO: LAST: 2% EXPECTED: 2% REAL: 1,9%
10Y EURO BOND GOING UP, YIELD DOWN, CURRENCY DOWN.
10Y US BOND...