EURUSD Target achieved, counter-rally followed by more weakness
Updated
EURUSD
After another rally back to the upper parallel precisely EUR has fallen to the target at 1.1915 after an intra-day low at 1.1910.
It should now attempt a feeble rally back to 1.1946 and the upper parallel at best before it falls away again. And unless it can find a double bottom at 1.1910 when it next comes off the likelihood remains that it will decline further still over the more medium term in stages to 1.1880 then 1.1815 and finally to 1.1721
After another rally back to the upper parallel precisely EUR has fallen to the target at 1.1915 after an intra-day low at 1.1910.
It should now attempt a feeble rally back to 1.1946 and the upper parallel at best before it falls away again. And unless it can find a double bottom at 1.1910 when it next comes off the likelihood remains that it will decline further still over the more medium term in stages to 1.1880 then 1.1815 and finally to 1.1721
Note
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