Monthly Chart: Overall Trend is Bear (Brown Chanel) around 1.4467 (Support 1) to around 1.1404 (Resistance 1) My Projected Price is 1.1607 or 0.9255 if its able to break away from price around 1.3178. If not then it will long back to 1.4252(Long Term Investor)
but within it, its going Bull (Green Chanel) 1.3068 (Support 2) to 1.4315 (Resistance 2)
From here, we can see the trend is actually balancing, but its a big one (Brown Chanel) from 1.3943 (Resistance 3) to 1.3389 (Support 3). It is trying to break away. Currently the price is at 1.3427 which is like 30 pips away. If it is breaking away from this big balance, then the next pivot point to watch is at 1.3343. Even so, it may rebounce back to the other side of the channel if it enter back the chanel to price around 1.3980 and continue to long until around 1.4300.
Now, as we can see from the below chart, the trend is shorting. 1.3943 (Resistance 3) to 1.3389 (Support 3). It is trying to break away. Currently the price is at 1.3427 which is like 30 pips away. If it is breaking away from this big balance, then the next pivot point to watch is at 1.3343. Even so, it may rebounce back to the other side of the channel if it enter back the chanel to price around 1.3980 and continue to long until around 1.4300.
0 Response to "AUGUST 2 EURUSD"
Post a Comment