This week the EUR/USD has been showing bullish signs so far, however this week's market volatility is high compared to where the price is now and I believe there is still an indecision of the overall price direction. The major trend is clearly downward sloping and in the past month the price has been forming a typical for this currency continuation in the direction of the major trend turn. I have highlighted a few to show this.
In the case of a trend reversal or a consolidation period, the EUR/USD is still likely to reach its current price target, because as we can see in 2010, when the price was trading outside the regression channel and later on had reversed direction , there still was space to profit from a short position. An important thing worth noting is that all the highlighted parts , have happened after a sharp swing down/up periods.
To sum up; Regardless of the following major trend direction . the price has reached a POSSIBLE exhaustion points, where it is HIGHLY LIKELY to form a correction.
Please share your views and ideas with me.
In the case of a trend reversal or a consolidation period, the EUR/USD is still likely to reach its current price target, because as we can see in 2010, when the price was trading outside the regression channel and later on had reversed direction , there still was space to profit from a short position. An important thing worth noting is that all the highlighted parts , have happened after a sharp swing down/up periods.
To sum up; Regardless of the following major trend direction . the price has reached a POSSIBLE exhaustion points, where it is HIGHLY LIKELY to form a correction.
Please share your views and ideas with me.