It does look good for our SHORT position in the EUR from the 1.14 Level. The Timing target as well as the technical resistance based on the underside of the previous counter-trend uptrending channel did work out properly.
The question is whether this will turn out to be just a minor correction followed by a slightly higher high before moving lower OR a cascade to the downside from the current top made on the 28th of Feb.
IF this turns out to be the top then 15th of March seems like the most likely date for a temporary bottom followed by a rally to the 22nd of March. 10th does seem like a possibility BUT it is a weekend so we have to stick to the 15th as the most likely scenario.
It is still early days though, so such time targets are not yet confirmed. Still watching the price action to see whether or not this was the turning point in the EUR/USD.
The question is whether this will turn out to be just a minor correction followed by a slightly higher high before moving lower OR a cascade to the downside from the current top made on the 28th of Feb.
IF this turns out to be the top then 15th of March seems like the most likely date for a temporary bottom followed by a rally to the 22nd of March. 10th does seem like a possibility BUT it is a weekend so we have to stick to the 15th as the most likely scenario.
It is still early days though, so such time targets are not yet confirmed. Still watching the price action to see whether or not this was the turning point in the EUR/USD.