mitech616

mitech616 Updated 

It looks like we're at another crossroads today with the pair. It MAY be bouncing off the bottom of the retracement, headed upward until resistance. Keep an eye on the price, if it goes over the pivot around 1.20750. You may wish to buy out your sell order, then re-short after the bounce. You could even buy after around 1.20800 for a short trip up toward...

mitech616 Updated 

So, this one was more complicated than I realized yesterday, but the outcome should be the same overall, with a downward trend in the pair. What I DIDN'T see is the triangle forming, funneling pricing toward a breakout. Initially I thought the upper band break was a return to the previous upward trend, but after looking at some other analysis, it looked more...

mitech616 Updated 

The combination of a downward trend and announcements from the US this week indicate a likely short for the EUR/USD pair. Trend lines indicate a bounce off the resistance around 1.21800, trending down toward previous support at 1.20000. Depending on impact of the news cycle, I'd expect the target of 1.20 to be reached by the end of the week. Strategy:...