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I see too many sellable points in the Euro

Discussion in 'Technical Analysis' started by FXStreet_Team, Nov 12, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    EUR/USD keeps trending on the lower half of the channel which has been defining the pace of this down move; A consolidative tone has emerged once the pair found support at the 161.8% Fibo projection leaving the observer in doubt as to its true intention; The gut reaction at the first break below 1.07 was that the action is part of a flag correction unfolding, which would imply a trend continuation. But the time the price spent meandering has morphed into a possible “U” formation where 1.0870

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