Hello all,
Looking at some long term technical signals that is supporting a weaker EURO
OUTLOOK: Lower Prices
Idea Supported by the following technical observations
Major Pitchfork: Headed to the Black ML from P2 (1 July 2008)
Green Upward Pitchfork: Breach of Lower MLH and now Sliding Parallel constitutes a price failure, Therefore counter move should be greater than the move up, towards the ML ( See both downward targets )
Grey downward pitchfork: Supporting our expectation of prices falling to the latest ML ( See FIB targets 0.272 & 0.618 ) and finally to the MAJOR pitchfork ML
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Supporting Major Top 1.39924 (May 2014)
Time Resistance
Previous Upward Range Took 11 Months. 200% of 11 Months is 22 Months ( Ends MAY 2014)
Price Resistance
Current upward range is 63.7% of previous upward range and 67.30% of previous downward range, thus they are in a Pivot Zone between 61.8% and 78.6%.
Sincerely,
Timing Is Key
Looking at some long term technical signals that is supporting a weaker EURO
OUTLOOK: Lower Prices
Idea Supported by the following technical observations
Major Pitchfork: Headed to the Black ML from P2 (1 July 2008)
Green Upward Pitchfork: Breach of Lower MLH and now Sliding Parallel constitutes a price failure, Therefore counter move should be greater than the move up, towards the ML ( See both downward targets )
Grey downward pitchfork: Supporting our expectation of prices falling to the latest ML ( See FIB targets 0.272 & 0.618 ) and finally to the MAJOR pitchfork ML
-------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Supporting Major Top 1.39924 (May 2014)
Time Resistance
Previous Upward Range Took 11 Months. 200% of 11 Months is 22 Months ( Ends MAY 2014)
Price Resistance
Current upward range is 63.7% of previous upward range and 67.30% of previous downward range, thus they are in a Pivot Zone between 61.8% and 78.6%.
Sincerely,
Timing Is Key
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.