The Wild Boys are back!

The mostly looked at forex currency pair eurusd is testing it’s 9 month bearish consolidation pattern break line (support). A monthly close below 1.075 would give a nearby target at 1.015. Check out the 10 year monthly graph below.

eurusd_m

The 5 year weekly candle grach shows some noise below the breakdown line. Make sure to wait for a monthly close below the breakdown line to avoid a possible whipsaw. Check this previous post on how to reduce noise.

eurusd_w

A final zoom in on the 1 year daily candle chart. Testing of the support area in progress. Same noise below the breakdown line as on the weekly candle chart. Be carefull!

eurusd_d

I’m definately going to come back to this major forex pair early decembre. Let’s hope I get my bearish continuation breakdown to the furthest target at parity. Check this previous post from Jan 11.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.