Short positions below 1.4115 with targets @ 1.402 & 1.398 in extension.
ALTERNATIVE: Above 1.4115 look for further upside with 1.4145 & 1.4195 as targets.
The pair remains under pressure and is approaching its next support as the RSI is badly directed.
The setback off last week's 20-week high at 1.4249 has turned nasty, and the loss of 1.4053 brings projected support at 1.3965 into the picture. Downside projections off the 1.4220 lower high have created scope for a break below 1.3965, as a 1.618 Fibonacci extension target lies at 1.3904. However, keeping 1.3965 intact is required to maintain the eleven-week uptrend, and euro bulls will look to defend 1.3965 vigorously. Regaining ground above 1.4188 is required to negate the bear threat, which is protected by 1.4097/1.4111.
The content on this site is subject to change at any time without notice, and provided for the purpose of assisting traders to make independent investment decisions.YAKINKEYOFWEALTH has taken reasonable steps to ensure the accuracy of information on the website, but does not guarantee the accuracy, and will not accept responsibility for any loss or damage which may arise directly or indirectly from the content or your inability to access the Us or website , for any delay or failure of transmission or receipt of any instruction or notifications sent through this website.
Posts
No comments:
Post a Comment