EURUSD: Update and Key Hidden Levels
Updated
In this chart I describe the current estimated trayectory for the Euro.
I expect a brieft retracement, if we were to move above the last daily high, crossing the recent FOMC minutes release Key Level, and go to test the low volume resistance levels above, and eventually test the top FOMC key levels if said resistances fail to hold.
It's possible to go long above the last daily high using a tight stop, and closing and flipping short when we approach the overhead resistance.
I outlined two potential paths EURUSD might follow, and in both cases, I'm expecting monthly and quarterly downtrend continuation as we break all FOMC support levels on the way down.
Check related ideas for my previous charts covering this pair, and also check the EURCHF posted by my friend Tom Killick, might be a nice pair to add to your portfolio to profit from this expected Euro meltdown that I forecast here.
Cheers,
Ivan Labrie.
I expect a brieft retracement, if we were to move above the last daily high, crossing the recent FOMC minutes release Key Level, and go to test the low volume resistance levels above, and eventually test the top FOMC key levels if said resistances fail to hold.
It's possible to go long above the last daily high using a tight stop, and closing and flipping short when we approach the overhead resistance.
I outlined two potential paths EURUSD might follow, and in both cases, I'm expecting monthly and quarterly downtrend continuation as we break all FOMC support levels on the way down.
Check related ideas for my previous charts covering this pair, and also check the EURCHF posted by my friend Tom Killick, might be a nice pair to add to your portfolio to profit from this expected Euro meltdown that I forecast here.
Cheers,
Ivan Labrie.
Note
Closing the gap, day turns up and we might get our rally to sell against.Note
It's on...Note
Testing FOMC support, we might see a bounce here, sell any rally!Note
Daily, weekly and monthly levels in one chart.
We might bounce higher here, selling rallies is ok, but you could also go long above a high before selling.
Trade active
Currently long, the January 26-27 FOMC meeting key level held the decline.Note
If we break the current resistance we might trigger a larger rally.I'll update it as we move forward, first target is 1.11281, target #2: 1.17136 (not confirmed yet)
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