EUR/USD
The EURUSD did rally as mentioned last week (EURUSD poised for another correction). We recommended taking short positions around 1.2630 and 1.2700. This is the last call to capture the correction. The rising wedge is intact and the D1 chart shows that price action rallied into its declining 200 DMA, which it will not be able to breach to the upside. This pair ran into major resistance and will launch a massive correction from here.
MACD has showed strength and will be the last indicator which will break down. RSI is trading in overbought condition and recently broke down from extreme overbought to overbought on the D1 chart.
This is the last call to short the EURUSD before the massive correction will push this pair to new multi-month lows.
In case you followed our previous recommendation add to your existing shorts between 1.2780 and 1.2895, otherwise enter your initial shorts at the same level.
The same take profit levels as previously are in place, below 1.2550.
Комментарии (6)
0 guest103 Автор Сообщений: 433
0 guest103 Автор Сообщений: 433
Eurodollar has stalled a little this morning. The current level lies close to the monthly pivot, which could mean we are at a reversal point and the exchange rate could roll over here. A break back down below 1.2761 would give a strong confirmation signal, with 1.2700 then in sight. A move above 1.2803, however, could see it push higher to the major multi-month trend-line at 1.2900 where it will probably stop because of resistance.
0 guest103 Автор Сообщений: 433
0 guest103 Автор Сообщений: 433
16 lansa Сообщений: 965 - Светлана
0 guest103 Автор Сообщений: 433
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