Pair: EUR/USD
Timeframe: Weekly
Stochi: still has momentum down & leading to oversold
Resistance: (strong) May 2012
‘D’ of AB=CD pattern lines up with Resistance
Let me know what you think!
its hard to predict where this down trend will end. i wouldnt be surprised if that resistance level is broken. the euro is a mess.
There’s no doubt the fundamentals are there to push it further south. Im hoping this technical prediction is true so that i can open a larger bearish position after it retraces!
Hai jongp2
I’m not shure your D point mark the end of the trend. Probably at that point will rebound but the foundamentals are not good nor neutral …
Good luck for your prediction
Thank you! Better move; wait for a retracement influenced by that major resistance then enter short