EURUSD Technical Overview : Caution “Holiday Week Thin Markets”
The year is almost over. Lack of liquidity in the markets. Risk of Volatility.
Our last call was short at the breakout of the triangle. The Pair completed the bearish triangle breakout.
The target of the pattern was 80 pips according to the Measured Move calculation.
The formation worked almost perfect as described in the books and dropped 80 pips.
The pair is likely to pull back and test the initial leg at 1.13980.
Close above 1.13980 will carry the price 1.14300 and 1.14500.
A clear break below 1.13500 will send the pair 1.13100 critical support.
We will update according to the price action.
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DISCLAIMER: This is a technical analysis study, not advice or recommendation to invest money
EURUSD Technical Overview: Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. Chartreaderpro does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.