TLDR: maintaining bearish bias unless reinstate above 28, expecting it to go lower first before it can go higher
EW interpretation:
On the monthly chart there were visually 3 waves up before the covid crash. Based on the purple fibs, one can also argue we have already seen a 5 waves top.
In both case, the (A) wave almost perfectly hit 0.618 retracement and...
You would think the bombings in Brussels would send the euro plummeting. You would think the ECB reducing rates and more QE would send the euro plummeting. You would think the very idea of a brexit that threatens the EU concept would bring down the euro. You would think that political uncertainty in Germany and poor data would bring down the euro. This is my...
EURUSD Brussels Attack Caution
Just a short technical assessment:
I see maximum downside risk for the EURUSD-0.31% at around 1.1150, which is 0.38 fib support, upper ichimoku cloud and bottom of march uptrend channel despite a strong H4 bullish divergence in the RSI
On the upper end we could see a move to go through 1.13 levels and finally knock out 1.14.
Be...
