Despite many market players calling for long 
EURUSD positions and a recovery to 1.11/1.12, when we look at the hourly chart the recent trend remains downward with lower highs, but higher lows into this consolidation/wedge pattern. A continuation would be to be expected but should arrive soon and re-test the post #FOMC lows to confirm the the Medium Term downward trend. A move into the 1.11 area may signal some further gains so watch for the spikes.
Personally we will continue to sell rallies, what anyone else does is - as always - up to them! :)
Happy hunting!
EURUSD positions and a recovery to 1.11/1.12, when we look at the hourly chart the recent trend remains downward with lower highs, but higher lows into this consolidation/wedge pattern. A continuation would be to be expected but should arrive soon and re-test the post #FOMC lows to confirm the the Medium Term downward trend. A move into the 1.11 area may signal some further gains so watch for the spikes.Personally we will continue to sell rallies, what anyone else does is - as always - up to them! :)
Happy hunting!
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.