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EURUSD MONTLY CHART = BLACK HOLE
I posted yesterday that the downside and 1.0446 were at risk as ;ong as EURUSD trades below 1.05
Well the intra-day high was 1.0498, then 1.0446 was broken but it was hard to call what came next, a plunge into a black hole to a 1.0332 low.
Looking at a monthly chart you can see why 1.0446 was so important and why the black hole creates a void until .9535
This means
No obvious support so use the most recent low. The deck is clear of sell stops until ther 1.0332 low.
Key level on top is 1.0446, trades offered while below it but only 1.05+ would negate the risk to ???
And then I look at a EURUSD chart, as EUR is oner of the underperfrormers.
Waht catches my eye here is a failure just above 1.0655. I also take a Look at a EURJPY chart and as alwats EURGBP to see what is driving the EURUSD.
EURUSD 1 HOUR CHART – 1.05 looms
Yet another run at 1.05 where support is at 1.0496-1.0506.
I ther look at currency charts where the action is.
When I see a sharp move in one direction in USDJPY there is generally an offset in another currency (in this case EUR and/or GBP)._
USDJPY 4 HOUR CHART
What catches my eye is the break of 154.52 (suggests using 154.50)… use it as an intra-day bias indicator
