We have enter a new month and we ask our self will this month help euro and simple answer is NO. Euro is in hard position. Euro saved Ireland with many millions of cash and it looks like there will be more countries that will need cash in European Union. That why this downtrend is taking so long and i expect it to go down even more. I m still having my trades opened and i didn't trade anything since then, already at 200 pips x2.
On weekly chart we can see that we can hit 1.1 mark if this trend continues. Indicators just started to show downtrend move and they are showing strong so i doubt this will stop and turn back up anytime soon.
On daily chart we just pass 38.2 line of our weekly fibonacci. We didn't stop there and we are looking to go more down. Our first test line is 1,25850
On hourly chart we see some up movement in last 4 hours, is this just small retracement and then we will be back in downtrend we will see in 1-2 hours for sure. But this kind of scenarios are already known, small retracement and then movement down.
15 minute chart show some movements up as normal if hourly is moving up in last 4 hours then as well is 15 minute chart moving up. But i think this will just be neutral trend movement for some period and then it will face down. If things changes i will write in comment.
On weekly chart we can see that we can hit 1.1 mark if this trend continues. Indicators just started to show downtrend move and they are showing strong so i doubt this will stop and turn back up anytime soon.
On daily chart we just pass 38.2 line of our weekly fibonacci. We didn't stop there and we are looking to go more down. Our first test line is 1,25850
On hourly chart we see some up movement in last 4 hours, is this just small retracement and then we will be back in downtrend we will see in 1-2 hours for sure. But this kind of scenarios are already known, small retracement and then movement down.
15 minute chart show some movements up as normal if hourly is moving up in last 4 hours then as well is 15 minute chart moving up. But i think this will just be neutral trend movement for some period and then it will face down. If things changes i will write in comment.
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