The Euro pulled off an outside reversal to the downside (exceeded the
June high and closing below the low). The cash closing was 13388 and we
elected the first minor Monthly Bearish Reversal leaving us 132-1333 to
watch very carefully. We are still looking now for the September turning
point. Here the chart pattern is awesome. The Break-Line Channel has
performed perfectly capturing the rally and we can see the Euro has been
unable to breach that resistance. On the downside, we should be
expecting a drop to par in the months ahead.
Please share this article
No comments:
Post a Comment