EURUSD held the center line of the channel from the 11/2 low…again. This line has been support since 12/9. Clearly, it’s important. One scenario to consider is that weakness since last week is a 4th wave within the 5 wave cycle from the November low. If this interpretation is correct, then a drop to 1.2060/70 would unfold before one more leg up unfolds.
Director of Technical Research at Krilogy, author Sentiment in the Forex Market
Twitter: twitter.com/jamiesaettele
Website: krilogy.com/
Twitter: twitter.com/jamiesaettele
Website: krilogy.com/
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.
Director of Technical Research at Krilogy, author Sentiment in the Forex Market
Twitter: twitter.com/jamiesaettele
Website: krilogy.com/
Twitter: twitter.com/jamiesaettele
Website: krilogy.com/
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.