SHORT on 30 Mins
Euro failed to break out the resistance zone between 1.1345-1.1355 coz the economy is worse than ECB's expectation and FOMC is less dovish than expectation. Unfortunately, Euro will complete a head and shoulder term pattern.That should confirm completion of rebound from 1.1275. Further decline should be seen to 61.8% retracement of 1.1275 to 1.1370 at 1.1312 next. On the upside, though, break of 1.1345 will turn focus back to 1.1360 resistance instead.
The target is 1.1295.
Turning point: 1.1345.
Under 1.1345, bearish , target price is set at 1.1310, then 1.1295.
Above 1.1345, bullish , target price is 1.1360,then 1.1410.
RSI technical indicators are confusing.
Prior Strategy:
The target is 1.1295.
Turning point: 1.1345.
Under 1.1345, bearish , target price is set at 1.1310, then 1.1295.
Above 1.1345, bullish , target price is 1.1360,then 1.1410.
RSI technical indicators are confusing.
Prior Strategy:
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