down to 1.12600, then to 1.14500 and beyond.
I believe the bearish cycle since we've seen on EU since Feb of 2018 may be coming to an end.
Starting at the month, if we place the fib starting from Feb 2016, and bring it to Feb of 2018, we can see that EU did not break the 61 Fib. The last 2 months ended in dojis and this month will end in a bullish engulfing candle, closing above 3 previous months. It has also broken my upper trend line and a previous LH.
There was a very strong push and retest of 1.12150 when is a weekly level.
On the daily there are 3 dojis/spinning top like candles. I am expecting an aggressive move to the downside to 1.12600 after Monday, then back up to 1.12600
Starting at the month, if we place the fib starting from Feb 2016, and bring it to Feb of 2018, we can see that EU did not break the 61 Fib. The last 2 months ended in dojis and this month will end in a bullish engulfing candle, closing above 3 previous months. It has also broken my upper trend line and a previous LH.
There was a very strong push and retest of 1.12150 when is a weekly level.
On the daily there are 3 dojis/spinning top like candles. I am expecting an aggressive move to the downside to 1.12600 after Monday, then back up to 1.12600
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.