EUR/USD Weekly Chart
One thing worries me. Upcoming OPEC Meeting. Another thing is the Weekly Chart and what it is suggesting to me. As you can see on Weekly Chart, price literally hit the Blue Line. Not to expect the reaction at this price isn't wise coupled with the fact that tommorow it's infamous Friday on which day Weekly retracement are known. Something to think about. Based on what I see, while I expect USD to depreciate further, there are many red signals. We very well may be at the price now at this moment where price is about to pivot and price where Downtrend will continue from. We are in December now so keep your eyes open.
If we don't get the usual Friday's retracement tommorow, that will be the huge red flag to me.
One thing worries me. Upcoming OPEC Meeting. Another thing is the Weekly Chart and what it is suggesting to me. As you can see on Weekly Chart, price literally hit the Blue Line. Not to expect the reaction at this price isn't wise coupled with the fact that tommorow it's infamous Friday on which day Weekly retracement are known. Something to think about. Based on what I see, while I expect USD to depreciate further, there are many red signals. We very well may be at the price now at this moment where price is about to pivot and price where Downtrend will continue from. We are in December now so keep your eyes open.
If we don't get the usual Friday's retracement tommorow, that will be the huge red flag to me.
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