Hi guys, I have been really busy today so the update on 240 for EURUSD comes a bit later than planned.
EURUSD has been pushed back to this now relevant support trend line on the 240 interval, after loosing the Quarterly and the Monthly Pivot at the same time.
Generally this could still be simply a breathing and retest of this area in order to grow further and above the Quarterly Pivot. EURUSD is pausing here because buy orders are kicking in,
although at the current time I don´t see any specific reversal sings, that bring the price back up, we need to watch further what happens on this level and potentially short the breakdown.
(Especially watching out for Pullbacks, Engulfs or Stochastic Break Ups/Downs providing good odds to growth until the white key-level or decline, meaning both directions!)
Technically the breakdown from the top pattern is not at the 100% target yet, with all the support going on down there, doubting it will be reached just like that.
Please note this is a potential buy-zone rather then short, but be prepared for both directions and react instead of assuming.
As usual marked the next significant levels.
Neru
EURUSD has been pushed back to this now relevant support trend line on the 240 interval, after loosing the Quarterly and the Monthly Pivot at the same time.
Generally this could still be simply a breathing and retest of this area in order to grow further and above the Quarterly Pivot. EURUSD is pausing here because buy orders are kicking in,
although at the current time I don´t see any specific reversal sings, that bring the price back up, we need to watch further what happens on this level and potentially short the breakdown.
(Especially watching out for Pullbacks, Engulfs or Stochastic Break Ups/Downs providing good odds to growth until the white key-level or decline, meaning both directions!)
Technically the breakdown from the top pattern is not at the 100% target yet, with all the support going on down there, doubting it will be reached just like that.
Please note this is a potential buy-zone rather then short, but be prepared for both directions and react instead of assuming.
As usual marked the next significant levels.
Neru
