The uptrend is still intact . Thus I expect a retest of the broken upward channel before we can predict the further direction.
I am taking another position as there is no sign of an imediate correction in view. Probably the markets are reconsidering the economic outlook of the USA which may result in a stronger tendency of the Euro.
This indicates that there has benn found an intermediate bottom at least. At the falling resistance line we bounced back and retraced. Perhaps the retracent will continue for some bips but the we should see a bigger upmove.
We stopped at the bottom of the parrallel of the former upward channel. Despite a slowing of the movement the trend is upward.
Now the time has come. It was abit to early this morning for a short. That's why I closed the initial osition. But now we retraced the last fall since the previous recovery. If it will become a new downtrend then it may start now.
We are at the top of the previous range agaain now. If we cannot overcome this again the downtrend can continue. I consider this sidemove as a consolidation done.
The interimistic downtrend is slowing and perkaps we may resume the overlaying uptrend now.
It can continue its downtrend now after 38 % retracement.
The upmove since yesterday has been retraced now, i.e. it can be continued nw.
The trend has been corrected now for 38 % and we reached the bottom of the upward channel. Good chance to continue the trend.
Same comment as in the related chart. But this time it is a weekly support.
We are sticking in a sideward range within a downward trend. As there is a bottom building we may expect a correction up with an attempt to close the window.
but it looks overbought to me anyway so that we may see a correction.
In a clear downtrend we - retraced 38 %, - reached the falling trendline from below - are toughing a former resistance fefore the rate made its rise in January.
In my opinion LB is oversold and a year old support has been reached.
The price climbs up along the parallell of the previous channel. Probably this will continue.
It looks overbought to me and the window may be closed in a correction now.