This chart shows a EUR index equally weighted across other major currencies.
I recently posted a couple ideas that suggest EUR was setting up short opportunities.
This chart shows a textbook short squeeze towards support (Lower highs, pushing price towards support) , which is also the 0.5 fib level from the 2017 rally.
While EUR has seen a significant decline vs. USD, it has retained a lot of strength vs. other currencies. While there are signs that EUR looks vulnerable to a reversal, a break below this level would offer confirmation to the likelihood we will see further declines across EUR pairs.
I will post a view of the long term chart in the comments.
I recently posted a couple ideas that suggest EUR was setting up short opportunities.
This chart shows a textbook short squeeze towards support (Lower highs, pushing price towards support) , which is also the 0.5 fib level from the 2017 rally.
While EUR has seen a significant decline vs. USD, it has retained a lot of strength vs. other currencies. While there are signs that EUR looks vulnerable to a reversal, a break below this level would offer confirmation to the likelihood we will see further declines across EUR pairs.
I will post a view of the long term chart in the comments.
Note
Weekly Chart....0.5 fib still looks like it's holding as support, but being attacked.
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Related publications
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.