ArnaudKleinveld

EURUSD Artificial Triple Top?

OANDA:EURUSD   欧元/美元
EURUSD went into a rally late December which continued in January as expected and hit resistance on January 25 UTC . Its strong momentum and the speed at which it was punching through each price level let one think that resistance at 1.25 would break.

The first hit on January the 25th UTC was actually already a triple top on it's own, if viewed on the 5m time scale. On the scale of days this first hit looks like not more than a touch and barely qualifies to form a triple top with the tops on February the 1st and 15th. Nevertheless, both signal well trained technical analysts to believe its preparing for reversal.

On February 15, 7am UTC I so happen to have my eyes on EURUSD and AUDUSD and could closely monitor the rally both went into. It was like someone had given them a kick with a hammer for a sprint to the top. Both rallies stopped and I noticed the system had enabled its price control process which in this case acted as if the market floated freely but a experienced traders often notice when it's been switch on and off.

Another event that leaves me with a whole bunch of questions, such as:
1) Was it a natural interruption of the drop of the USD or was it set up by the controlled mode of the market?
2) If it was set up, then by who and why?
3) Have more corrections taken place this week and are these such as marked in the chart?
4) Were there perhaps similar corrections back in December and November? Back then significant USDJPY drops were interrupted and price was restored?
5) Are there economies that suffer from corrections like these?
6) COT data reports nearly 70% net long on EUR, which has been going on for a while. Is it possible that the USD simply had no chance to recover due to its bearish sentiment as prepped by the charts?
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