EURUSD still in bearish trend

Μερικό κλείσιμο θέσεων
October 8, 2018
Κλείσιμο θέσης
October 9, 2018

Good morning everyone!!! EURUSD remains inside the bearish channel. Price back tested the broken short-term blue support trend line and got rejected. As long as we trade below 1.1545 we should expect a move towards 1.14-1.1420.

I believe we are in the final stages of the decline from 1.18 and we should find a tradeable bottom and reversal signs around 1.14-1.1420. If we do not fall towards my target and instead break above 1.1545, we should consider the decline complete and we should not expect to see below 1.14 for at least a few weeks. My minimum expectations are for a rally that will last a few weeks towards 1.19.

 

Thank you for taking the time to catch up on my thinking

Alexandros Yfantis
Alexandros Yfantis
Fascinated by financial markets, studied International Securities Investment and Banking in the UK, works as a Portfolio Manager in Greece and runs a technical analysis website. Enjoys travelling and spending time with his family and preparing for the black belt in Korean Karate.