EURUSD - Daily - Early Evidence of a bottom forming here
Note how it has been more than 5-days since the low was formed = 1 reason to be reduce bearish opinion.
Note that the market is above the "lowest high" not only from the decline, but also from the days just since the low was made. (See purple line).
The downtrend has been strong and steady - with all the declines making the target and more.
An outright buy signal is close since there are 6 days at that purple line and the market is currently above that price. The day isn't over, but I'm giving you a heads up early.
The measurement is the low 1.2500 to the mode at 1.2673, .0173, projects a move to 1.2846, which puts the market back into the last mode near the 1.29 level.
Tim
10:55AM EST 10/13/2014
Note that the market is above the "lowest high" not only from the decline, but also from the days just since the low was made. (See purple line).
The downtrend has been strong and steady - with all the declines making the target and more.
An outright buy signal is close since there are 6 days at that purple line and the market is currently above that price. The day isn't over, but I'm giving you a heads up early.
The measurement is the low 1.2500 to the mode at 1.2673, .0173, projects a move to 1.2846, which puts the market back into the last mode near the 1.29 level.
Tim
10:55AM EST 10/13/2014
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