Just re-evaluating as to why price failed today to break.
An alternative technical analysis can be it is cooking a reversal pattern for big bounce .
As per M5 tf an apparent inverted HS can come into the scene and as per parice may fall to 1.2647 before the bounce start to the neck region for validation around 1.2591.
In daily level price at rally down at 8th candle today & next candle 9th usually ups & down but candle close should be below 8th , todays close & as weekly also 9th running of the down rally next week can be big rally start but...
brilliant and excellent post Fontu
you are right 100% thanks for your post and guidance..its very clear to me i am expecting the same but we have to see thee price action...i am also expecting market to be up by tomorrow and many traders are waiting for 25xx to go long...
Ub
Let's see if the DOW30 will have enough power to make it to previous support of 10975 cash, it looks weakening (but indices are tricky). There is a wedge there now on hourly chart. If stocks sell off again, then that will provide enough of a incentive to push EUR off a cliff, well through the 1.25 I would like it to happen as I will gain via GBP as it will also tank.
