Monday, April 20, 2015

EURUSD Looks to Have Topped as Projected


The EUR/USD has appeared to have to topped as projected last week.  It has followed the channel resistance well so far.  A nice close beneath the previous low will also break down the upward sloping channel at 1.0710.  A nice close beneath that level should trigger heavy selling pressure with the wave ii) high remaining intact.  Once we get a convincing move downward I will restructure the chart and channels to the downside.  Look for lower levels immediately from here.

PLEASE NOTE: THIS IS JUST AN ANALYSIS BLOG AND IN NO WAY GUARANTEES OR IMPLIES ANY PROFIT OR GAIN. THE DATA HERE IS MERELY AN EXPRESSED OPINION. TRADE AT YOUR OWN RISK.

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