Using the trading methology from one of my friends which work for deustche bank
If am not wrong I am remember Buma with his astrology/cycle forecast EU will be see 1.32-1.33 level before going down
may I forecast also brother ?personaly dont like give a mid or even longterm call - but here my simple analysis based on daily chart since am swing here and there for a long time before
some probabilities
1.For me 1.3196 last time going up is the last correction
2.Break the orange lines we might going see the first red trendline of support and if the 1st trendlines hold respectfuly then we might see 1.32-133 level again
3.Break the first red trendlines of support,we might land in the second red trendlines
4.Look the second red trendlines,if its not respect beautifuly.I mean if its not descending channel then we might drop more
5.we may land in the third red trendlines if the second one didnt play respectfuly in other word its not a invalid descending channel
Note:
1.If this is not descending channel then we might see/test 1.32-133 level
2.If this is Valid descending channel then for me the correction its over
Simple like that but maybe my explanation might be confused some of you
If am not wrong I am remember Buma with his astrology/cycle forecast EU will be see 1.32-1.33 level before going down
may I forecast also brother ?personaly dont like give a mid or even longterm call - but here my simple analysis based on daily chart since am swing here and there for a long time before
some probabilities
1.For me 1.3196 last time going up is the last correction
2.Break the orange lines we might going see the first red trendline of support and if the 1st trendlines hold respectfuly then we might see 1.32-133 level again
3.Break the first red trendlines of support,we might land in the second red trendlines
4.Look the second red trendlines,if its not respect beautifuly.I mean if its not descending channel then we might drop more
5.we may land in the third red trendlines if the second one didnt play respectfuly in other word its not a invalid descending channel
Note:
1.If this is not descending channel then we might see/test 1.32-133 level
2.If this is Valid descending channel then for me the correction its over
Simple like that but maybe my explanation might be confused some of you
If there was easy money lying around,no one would be forcing it into your
Good one
