A desaster

I think we can now speak of a real disaster for the world. The pandemic will continue to hit the euro. The first level I see now is in the square on the graph. In this place the market could react a little. But .... if there is nothing positive in the current situation the euro will most likely continue to sink.

The economic disaster is already evident. But when the pandemic is going to stop then the economic disaster will become sensitive like an abscess that no doctor wants to treat any more. Nowadays we love life coaches and personal development so I'm not going to express my "negative sentiment completely like I wanted to do" because I fear that some people will be offended. So, I will not make a forecast or speculate in the dark for the mid/long term. To say where I think the euro will end up running, honestly "I don't know". But the current direction ..... I think it is obviously clear.

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On the weekly chart, as you can see, everything doesn't look good for the euro at all. The VI is negative. We got a crossover down. The stochastics bend over again (black line is turning down) showing a strong downward trend. This is even more clear on the daily timeframe which I will not show here.

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Update on 4h. Nothing new.

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Euro trying to go up. Felt back making an attempt. We are entering in stagnation in this zone.

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Update: We have crisscrossing VI which point to nothing. A bright future on the Ichimoku but many contradiction on other time frames. While the stochastics is making a fishnet. Means the actual move is coming to an end. This does mean we have to wait to see what the market will do. It can break down and just continue de downtrend. Or it can continue a bit higher.

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Could be a sell signal here but not confirmed. While the plague is hitting the US, eurusd is going the way up. For me still not a clear signal. I'm stopping the updates on this post for now.

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Eur is still weak, Usd is still in favour. The coronavirus crisis = high volatility. The coming months Eur can become very bullish. In the near future the should be a correction down. All depending the sentiment in these times. It can turn Euro back to red for a while before the next rise.

Manu76

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Manu76