Further to last weeks posting about where price was heading ( and at the time doing very
well)...now we have a real problem for the Euro on the upside. It failed to reach what i consider the medium term objective, the black centre line. As i said all was going well and on Sunday night/Mon morning the Asian session gapped up to1.2500 and that was it..price has been in decline ever since. On the simplistic E-signal chart you can see that price met both a RL in the black fork and also the UMLP of the red DS ML set. This is a price failure and perhaps this is a corrective wave on the way down lower rather than a reversal? The charts are inconclusive and a bit of a mess after recent price action but we could see some violent price movement in either direction but i am not convinced that this current downward move is over or indeed the recent up move.
No comments:
Post a Comment