EURUSD in the BOX !
Hi dear friends;
According to the two falling equal lags that you can see in the chart left side (two-piece spike), now I think we are in the trading range of the market cycle after the descending channel.
On the other hand, we can see the price second encounter to the top of the trading range also, it seems that the double top has been forming, and the price can fall to the lowest part of the box.
I will be waiting for the confirmation of this double top in different time frames.
The news from the Federal Reserve indicates an increase in interest rates also.
I think that the Euro will lose resistance soon!
Cordial regards.
According to the two falling equal lags that you can see in the chart left side (two-piece spike), now I think we are in the trading range of the market cycle after the descending channel.
On the other hand, we can see the price second encounter to the top of the trading range also, it seems that the double top has been forming, and the price can fall to the lowest part of the box.
I will be waiting for the confirmation of this double top in different time frames.
The news from the Federal Reserve indicates an increase in interest rates also.
I think that the Euro will lose resistance soon!
Cordial regards.
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.