EU has broken down from it's latest attempt at a trend break out. Having failed to progress it is now coming back down and has just completed the week by breaking down from its first retrace after the initial drop from the top. Continuation is expected and a short position was entered at 1.1126.
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Should continue down to the 1.07 area from here.
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Expected a retrace, but it looks to be continuing to target around 1.07
Kommentar:
Expecting a correction into the 50% zone before continuation down.
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Profits were taken with the dot cross on the move up, but a long was not initiated. Currently a top has not been established and it has closed well above the 50% zone. It could retrace right up to (or through) the 100% level. It could also put a wick across the 75% line and reverse. We'll find out next week.
Kommentar:
Mistake above: it's the 7/8 line, not the 3/4, that needs to be confirmed as a limit here. It could easily keep going higher. Time will tell.
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Strong move up may be finished, but it has not developed a top just yet. Staying short around current price for a pullback at least to 50% of the run. CV could put more pressure on the pair over the coming couple of months.
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Waiting for a HiLo Activator short entry to develop.
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target level is around 1.1360.
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Delay of game for a retrace. I still think it will go at least for the 75% line if not the whole 100%.
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Could go either way in the short run. Will enter long if indicated otherwise I'll wait out a retrace and then go long.
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Short from 1.10. Looking to see if this support breaks.
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Short from near the high at 1.0996
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Should head lower this week.
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Short from 1.1325 on the RSD. It won't be confirmed until Mon/Tues with a lower low, but it looks pretty good so far.
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Whether or not this continues down will be up to the strength of DXY. If DXY continues to recover from its dive, EU will continue down. First stop around 1.10 and then on to somewhere around 1.06.