As resistance at 144.41 held firm we are now seeing strong support at 141.55 challenged. The odds for this support to protect the downside is very high. The MACD-Indicator is showing positive divergence supporting a bottom soon.A break above 142.76 would be first good indication that the double Zig-zag from 149.39 is over, while a break above 144.23 confirms the bottom.
A clear break below 141.55 will be of concern and would call for a continuation towards 140.25.
We'll save you a spot in the Bear camp, because your analysis was pretty good a few weeks ago, you were way ahead of the pack that's for sure. I think though the Euro Bulls will finally get fillet, we were knocking on the 1.50 handle less than a week ago, this free fall has been amazing, keep up the good work surfer.
ReplyDeleteHi RamosXP
ReplyDeleteThank you!
You are absolutly right, that the decline from near 150 has been stunning, but I will have to stay in the Bulls camp as long as support at 141.55 isn't broken clearly.
I will admit I'm on my heels in regards to EUR/USD, but as Swarzenegger says "I'll be back.." - Lol.
EWS
Hi EWS,
ReplyDeleteI linked your site to my blog which is connected to my homepage and associated content articles. I want people to see what a nice job you do on your analyses !