Technical Analysis and Outlook
The main downtrend was completed on March 7, and a new Main Down Trend Path is marked at 1.1038. As the currency has broken out of the tight trading zone (See Euro Chart Analysis March 7) made take-out all designated vital take profit and/or initiating buying - Mean Sup 1.1260, Key Sup 1.1218 along with completed Inner Currency Dip 1.1238 including Outer Currency Dip 1.1215 (See Euro Chart Analysis March 1).
Currently, we have a rebound in the process - possible Mean Res 1.1270 destination. However, to validate formal completion of intermediate down move we require confirmation signal which is in development - It will be known by the end of the session on Monday, March 11. (For more Market Commentary, please visit the TradingSig_dot_com).
The main downtrend was completed on March 7, and a new Main Down Trend Path is marked at 1.1038. As the currency has broken out of the tight trading zone (See Euro Chart Analysis March 7) made take-out all designated vital take profit and/or initiating buying - Mean Sup 1.1260, Key Sup 1.1218 along with completed Inner Currency Dip 1.1238 including Outer Currency Dip 1.1215 (See Euro Chart Analysis March 1).
Currently, we have a rebound in the process - possible Mean Res 1.1270 destination. However, to validate formal completion of intermediate down move we require confirmation signal which is in development - It will be known by the end of the session on Monday, March 11. (For more Market Commentary, please visit the TradingSig_dot_com).