In my view, the chances that the EURUSD has finally topped over the medium to long term are high. Lets assess whats going on,
-The weekly chart suggests multiple bearish breakout - Bearish breakout and completion of a long term head and shoulders top pattern - Bearish breakout and completion of a rising wedge bearish pattern -Bearish breakout and stability below the a cluster of key long term moving averages. - A new series of lower highs and lower lows established
Targets are illustrated on chart.. I am looking for an upside correction, i will be shorting near 1.3500, with a stop loss daily closing above 1.3700 and targets at 1.3300,1.3100 and 1.2750. As usual, limiting your risk at any trade is compulsory, technical analysis increases your chances of success, but never works all the time.
but dont forget that placing a stop loss is a must
Technician
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That was much faster than I expected
manijeh.kazemi.33
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thanks for sharing I really liked this analysis I will be following it
Zadco
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Your feedback and comments are really helpful; do also do analysis on Gulf Market especially Dubai; if so kindly need to analyze DFM; ARTC; Emaar.
Regards
HayriB
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What next? :)
manijeh.kazemi.33
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my sell at 1.30560
manijeh.kazemi.33
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I closed position at 1.27900 how can I thank you thats great as usual
Technician
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Lol, you are taking every position i post here .. Thats interesting