Short
Euro Crash: Gap Breakout on Weekly
Euro broke down weekly trendline with a gap. Gap breakouts is one of the critetias to validate the breakouts as true. And usually quite significant moves take place after gap occurs.
Moreover, we have not seen any signs of reversals below yearly Camarilla S3 level. If price should start an uptrend it is here between S3 and R4. No such signs for now. Quite the opposite we see a weekly shooting star off the reversal level S3! Weekly bullish morning star which we saw earlier seem to be failing.
Hence I would expect a yearly floor (S4) breakdown.
This is not financial advise!
Moreover, we have not seen any signs of reversals below yearly Camarilla S3 level. If price should start an uptrend it is here between S3 and R4. No such signs for now. Quite the opposite we see a weekly shooting star off the reversal level S3! Weekly bullish morning star which we saw earlier seem to be failing.
Hence I would expect a yearly floor (S4) breakdown.
This is not financial advise!
Trade closed: target reached
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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.