After a strong and consistent upward move which we experienced during the past weeks, we at astute financials decides to look critically at the EXY to know how far up this currency will actually go. According to the chart attached, you would see that a clear labelling shows that in the long term, the currency has still not completed its upward wave C correctional...
very critical point for all EUR pairs! wait for the London open and we will see!
Which one will head down hill? Most probably the Euro based on the setup? I have seen stranger things. The sentiment around the Euro is currently bullish and the Dollar bearish. Is this about to change over the next few weeks? Key indicators being publish over the next 2 weeks will determine where we head.
This is my Euro -0.03% forecast. The picture is very clear about the Bat Pattern I had found. Why the retrace? For tomorrow I dont expect any changes in ECB monetary policy , and also think they will be talking more about external risks for the EU recovery due to political tensions. Anyway, data is still showing at least for me a good recovery when you take a look...
No trade, just looking for an opportunity to short the EUR.
could go some up more but I expect some bearish action soon
Seems like a Inv.HnS in the Index. DXY seems like retesting a descending triangle formation with limited upside and big divergence in the RSI. Both premises together make me deduct a probable strenghtening of the EURO. Also, French elections + Eurostocks sentiment are good. We can ride this uptrend while it lasts.
Price is in the uper side of the daily channel and, at same time, it reached the downwards daily trend line.
I see a Head and Shoulders and a Bat pattern