3 Nov 2016

EUR/USD: OLD SUPPORT/NEW RESISTANCE - WILL IT HOLD?

EUR/USD DAILY

The rate has rallied up to test the former descending triangle support as the new resistance. At the moment the doji on the daily chart indicates we may indeed be seeing a polarity change.

I am looking for a strong rejection from the 1.1125 level to enter new short positions and the immediate target at 1.0900.

Only a break above 6-month falling trendline would invalidate my immediate bearish outlook for the pair.



0 comments :

Post a Comment