Euro has gone on a bullish/short squeeze rampage, however the pair has dramatically overextended it's move and has hit a big rejection on a daily/weekly timeframe.
I expect this pair to consolidate it's push from last week, and drop back down to 1.11 where it may very well make another move and tackle the 1.13 zone.
Will be interesting to see the inflated Chinese figures at 3 am
I expect this pair to consolidate it's push from last week, and drop back down to 1.11 where it may very well make another move and tackle the 1.13 zone.
Will be interesting to see the inflated Chinese figures at 3 am
Comment:
For this pair it is now or never, recent highs just have been tested and rejected... however the rejection was weak... Tight SL from DH to short to DL.
Comment:
Fake breakout, followed by selling, good start for short term sells, the pair is still technically bullish on higher time frames.
Comment:
Another fakeout happened, very strong selling pressure at 1.27 level, should that level break up, there will be a huge buying to 1.30 level, at the moment target is to 1.13 on retracement
Comment:
1.12 broke down, expect for the pair to reach the 1.113 mark in the next couple of days.
Trade closed: target reached:
Target reached perfectly, now I can expect consolidation and potential retracement to 1.118 then further drop to 1.10
Comment:
Further decline to my second supply zone where the price is holding, at the moment any retracement is great for sell entries, at the moment I cannot see Euro going back up to YTD highs with poor sentiment coming from the BLOC