The euro has now dropped to 1.3471 (FXDD MTxtreme Data). It is now testing the Daily trend line at, or around, 1.35. Surprisingly, for a Friday afternoon, the volume is seemingly high.
With this jolt downward, we could see price movement to 1.345, possibly even 1.34 Monday morning. We've also seen a bit of convergence on the H4 for the past two days.
If the market closes below the Daily trend this afternoon, and opens below it next week, then this could show strong signs of a downtrend.
P.S. Congrats to those who have been SELLING since 1.37.
With this jolt downward, we could see price movement to 1.345, possibly even 1.34 Monday morning. We've also seen a bit of convergence on the H4 for the past two days.
If the market closes below the Daily trend this afternoon, and opens below it next week, then this could show strong signs of a downtrend.
P.S. Congrats to those who have been SELLING since 1.37.