As you can see on the weekly chart, Euro broke the lower Pitchfork. Made pullback and clearly rejected. On 22 of October 2016 the ECB also announced a stimulus program "TLTRO", what essential means that there will be a greater supply in Euros. Last Thursday the ECB announced the next step "TLTRO iii". Market will reject the same as it did back in 2016, with overall economic slowdown in the Eurozone.
- Longtime target 1 ~ 2016 Open somewhere late Q3.
- Longtime target 2 ~ 2017 Open somewhere late 2019 early 2020.
Will post Daily and 2-hourly charts in the comment area.
- Longtime target 1 ~ 2016 Open somewhere late Q3.
- Longtime target 2 ~ 2017 Open somewhere late 2019 early 2020.
Will post Daily and 2-hourly charts in the comment area.
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Dollar Index also broke an import line, the .50 Pitchfork slope.
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Wrong Picture above. This is the right one.
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.618 of descending Pitchfork which was used as resistance and support last week and the week before that. Slope line has confluence with 38.2% retracement of last down leg.
Trade ist aktiv:
Euro approaching entry point. Looks like an ABC-correction pattern.
Trade ist aktiv:
Got a clean rejection of the area.