Temperate Correction is coming soon
Updated
The economic data released recent days supports FED's opinion on keeping patience to further tighten monetary policy, which weakens Dollar. The rebound have been maintaining for 4 days since last Friday, non-farm payroll is released. Meanwhile, the MP ruled out the no-deal Brexit on yesterday's voting. It decreased the risk and support Euro. However, Euro has completed the fifth wave and is still suppressed by the key resistance at 1.1345, the down trend from 1.1570 on daily chart. Thus, it's likely to test this resistance again today. If it fails, a temperate correction is confirmed to come soon.The target should be seen to 1.1300, further decline should be seen to .11270, the 38.2% retracement of 1.1180 to 1.1420. On the upside, though, break of 1.1345 will turn focus back to 1.1370 and 1.1400 resistance next.
The target is 1.1270.
Turning point: 1.1345.
Under 1.1345, bearish , target price is set at 1.1300, then 1.1270.
Above 1.1345, bullish , target price is 1.1370,then 1.1400.
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Prior Strategy:
The target is 1.1270.
Turning point: 1.1345.
Under 1.1345, bearish , target price is set at 1.1300, then 1.1270.
Above 1.1345, bullish , target price is 1.1370,then 1.1400.
If you like the strategy, please click "AGREE" and follow me. Your trust is my biggest motivation.
Prior Strategy:
Comment
TP1 reached.Disclaimer
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