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.

Happy Holiday !!!

Kommentera:

I am adding the DXY analysis here. We keep tracking both.