Weighted Euro average look to reverse on monday

Past week was marked by the eventual breakdown of the EURUSD, which has been awaited for a couple of months now. For that particular pair, there is a long way down before next key level is found. That is good news for us, because we can hopefully rely on the trend continuing for a while now.

- The weighted EUR index shows a clear downtrend channel.
- We're currently sitting at the bottom of the channel, with clear bullish divergence on the Stochastic and RSI

- This is not a trade per se, but the long position indicates where we want to trade the EUR for Monday.

Comment:

So this is where psychology hits - I'm starting to doubt my long in Euro, especially since I promised myself to trade counter-trend... I'm gonna keep this one on for self-punishment should I turn out to be wrong...