EURUSD IS EXTENDED IN PRICE AND NEEDS TO CONSOLIDATE, IT IS WITHIN A CONSOLIDATION ZONE
THEREFORE CANNOT RULE OUT BETWEEN 200-400 PIP CONSOLIDATION AND WILL THEN TARGET 12575 AND BEYOND.
A CONSOLIDATION OF MORE THAN 400 PIPS FROM 11895-12105 COULD TURN OUT TO BE COMPLEX AND INVALIDATE THE UPSIDE 12575 PRICE ZONE.
THIS MOVE IS STILL STRONG THEREFORE CAUTION IS WARRANTED TO THE DOWNSIDE.
THEREFORE CANNOT RULE OUT BETWEEN 200-400 PIP CONSOLIDATION AND WILL THEN TARGET 12575 AND BEYOND.
A CONSOLIDATION OF MORE THAN 400 PIPS FROM 11895-12105 COULD TURN OUT TO BE COMPLEX AND INVALIDATE THE UPSIDE 12575 PRICE ZONE.
THIS MOVE IS STILL STRONG THEREFORE CAUTION IS WARRANTED TO THE DOWNSIDE.
Note
EURUSD is breaking down from the trendline (15min/1hr) caution still warranted as a break below 11830-11790 required for consolidation.break below 11790 then 11400 probable downside support zone.
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.
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.