EURUSD: DOUBLE KEY REVERSAL! What is Next?
Greeting traders and investors from around the world.
Just to bring you an important key reversal I learnt from Jeffery Kennedy's of Elliott Wave International which I spotted on the EURUSD daily price chart.
First, 'A double close key reversal forms when prices make a new extreme, yet close above or below the prior two closes'.
The price bar on Friday made a new low, yet closes above the close of the previous price bar formed on Wednesday and Thursday.
Going forward, this implies that a low is in place and the next significant move should be to the upside.
KEY LEVELS: 1.0350, 1.0615 AND 1.0787
Trade safe and don't forget to leave a like and comment...
Let me know of your thoughts in the comment section below.
Trade safe and do have a great week ahead.
Just to bring you an important key reversal I learnt from Jeffery Kennedy's of Elliott Wave International which I spotted on the EURUSD daily price chart.
First, 'A double close key reversal forms when prices make a new extreme, yet close above or below the prior two closes'.
The price bar on Friday made a new low, yet closes above the close of the previous price bar formed on Wednesday and Thursday.
Going forward, this implies that a low is in place and the next significant move should be to the upside.
KEY LEVELS: 1.0350, 1.0615 AND 1.0787
Trade safe and don't forget to leave a like and comment...
Let me know of your thoughts in the comment section below.
Trade safe and do have a great week ahead.
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.