As can see from the above picture, EURUSD is currently in a very big balance stage, with 2364 pips in range. It took almost 2 years to move from the low to the top.
It's still in the uptrend move as the whole, but due to price always move diagonal, it is trending down currently. As indicated above, it is trying to move away from the uptrend channel. But EURUSD tend to overshoot, as highlighted above. I would certainly say that this normal pattern from observation.
As mention before, every trend end in balance, i see some small balance in the lower time frame. But to me, not enough buyers to stop it. Yes, some accumulated buyers.
Those who have profited from the downtrend, i wouldn't suggest to go full swing again now. Probably leave some small portion because its still trying to break from the resistance zone now. There are still some rooms to profits if it obey the pattern i recognised above.Those who have not take this trade, i wouldn't suggest going in now. I will observe more to give more insight on this pair, next week after the market open Thanks for listening.
0 Response to "Forex September 27 EURUSD"
Post a Comment