today i want to show you a nice short-term setup. We have 3 out of 4 leg of the Bat pattern and we are waiting for the 4th. It's gonna complete right at previous resistance that could act as support this time.
My levels of entry and stop are displayed on the chart above. Targets, as usual, are .382 and .618 retracements of AD.
This pattern is going to...
Downtrend line shows reactions at 1.11 level sending price to 1.098 level which is normally support that is being tested. If the 1.098 level i would wait to the 1.092 level where bullish market intercepts.
If the above points don't work out i would wait to the weekly low of 1.085 and definitely buy. If 1.99 level remains solid and resists it would be a good entry.
Good morning traders,
I trust you are all enjoying your time off, whilst I have some time I decided to do another eur/$ chart, as most of you already know my incredible bearish outlook on the pair still stands;
The bearish break looks similar to that found in August 2015 suggesting a move toward the trend lows at 1.052xx
The ECB appears to be on hold for now...
the stage is set....
do not be fooled into thinking otherwise, eu is getting smoked
brexit, italian loans, immigration dirving a wege in unity
negative rates stimulus
not a single reason going for the euro
gl and see you bears at the beach club