EURUSD: 3 long term downtrend targets
Updated
'Time at mode' analysis of the EURUSD points to continued weakness, and some considerably extreme downtrend signal targets.
First, we have 0.9077, which is the target demanded by the last quarterly Range Expansion bar: Next we have the local monthly downtrend signal's target at 0.95375. Last but not least, the quarterly downtrend signal's target at 1.00328, which must be reached before the downtrend timer runs out.
Fundamentals call for a continued decline in the EURUSD pair, but we have to stay vigilant of technicals as well. If price doesn't reach 0.9077 this month, we might see a retracement or reversal.
Likewise, if we were to hit 1.00328, it's possible to see a retracement or reversal, since the downtrend would have been completed ahead of time then. I hope this longterm map serves you well when navigating the Euro waters.
If you want more information in managing positions like these, and the way I'm approaching FX trading, contact me or Nicholas Coulby (ncoulb1) here, we're running a trading room chat via Skype, providing timely trade signals and coaching for a monthly fee.
Kind regards,
Ivan Labrie
Time at Mode FX
First, we have 0.9077, which is the target demanded by the last quarterly Range Expansion bar: Next we have the local monthly downtrend signal's target at 0.95375. Last but not least, the quarterly downtrend signal's target at 1.00328, which must be reached before the downtrend timer runs out.
Fundamentals call for a continued decline in the EURUSD pair, but we have to stay vigilant of technicals as well. If price doesn't reach 0.9077 this month, we might see a retracement or reversal.
Likewise, if we were to hit 1.00328, it's possible to see a retracement or reversal, since the downtrend would have been completed ahead of time then. I hope this longterm map serves you well when navigating the Euro waters.
If you want more information in managing positions like these, and the way I'm approaching FX trading, contact me or Nicholas Coulby (ncoulb1) here, we're running a trading room chat via Skype, providing timely trade signals and coaching for a monthly fee.
Kind regards,
Ivan Labrie
Time at Mode FX
Note
Once we break the mode up it's game over.Note
Critical times ahead, I'll monitor this closely.
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