EUR/USD regression
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 [seen form the regression channel] and in the past month the price has been forming a typical for this currency continuation [after a correction] 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 [showed with an arrow] in 2010, when the price was trading outside the regression channel and later on had reversed direction [from bearish to bullish], there still was space to profit from a short position. An important thing worth noting is that all the highlighted parts [swing reversal points], have happened after a sharp swing down/up periods.
To sum up; Regardless of the following major trend direction [continuation, consolidation or reversal]. 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 [showed with an arrow] in 2010, when the price was trading outside the regression channel and later on had reversed direction [from bearish to bullish], there still was space to profit from a short position. An important thing worth noting is that all the highlighted parts [swing reversal points], have happened after a sharp swing down/up periods.
To sum up; Regardless of the following major trend direction [continuation, consolidation or reversal]. 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.
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