The Fibonacci extension from pandemic sell-off reached the key-level 1.61% .. With a high probability a correction should occur.
Target price can be as low as 3700 ; but for now we recommend to close our long positions and will open short when ever we see a red 1hr candle.
Oscillators already show divergence compared to price which is also an indication of...
Obvious bearish gartley.. Price will break any previous lows . Elliot wave analysis also indicates that the long term bearish trend is still here . Targets are fresh new lows . Rally might be expected from Monday Tuesday but with short life and run out of gas
price action today shows that we will have a strong rally of the EUR from today , in the next 4Hr candlestick.
The price reward is really high. if you buy now have a stop lodd of 45 pips. Target is around 300 pips higher than here during the week
The 4H timeframe suggests for long position , also hit bollinger band and almost hit previous support.
Long term trend is up so we go for longs. The move will be followed by covering short selling positions from yesterday
