EUR/USD ANALYSIS | HAPPYTRADER.BIZ

I start with my previous chart and expectations dated 28 November 2014:

"I expect the EURO to find temporarily support around current level due to ascending blue trendline. As soon as this support breaks, levels of 120/115 cts can be expected, if not lower." — “I expect the EURO to find temporarily support around current level due to ascending blue trendline. As soon as this support breaks, levels of 120/115 cts can be expected, if not lower.”

Today we have following situation:

To be honest, the temporarily support on the ascending blue trendline was very temporarily which shows that the downforce is big. Now the support has to come from the horizontal line based on the bottom of December 2005. I will watch any bottom forming very closely between 115 and 110cts. Because after this a strong rally should occur as the EUR/USd is in a zigzag correction phase after the high in July 2008. Reverting!

Geef een reactie Reactie annuleren