I tried to post this in the trading room, but I guess I’m unworthy, lol.
Euro has been stair stepping up a fib ladder as seen on the dailies, price is still under the center median and is the target imho. There’s talk on the Euro thread of shorting, which could be a valid entry on a retest of the upper median of the smaller fork as seen on the 2nd chart basically a double top. However to me this looks like a normal correction back to the resistance now turned support rather than the start of a sustained bear.
Price is still technically in an uptrend as we have not taken out any of the prior swing lows. One could look for a smaller time frame pattern around the current top, but my guess is we will form a small H&S or ascending wedge (some reversal pattern higher to start the next larger correction.
Fwiw.
Euro has been stair stepping up a fib ladder as seen on the dailies, price is still under the center median and is the target imho. There’s talk on the Euro thread of shorting, which could be a valid entry on a retest of the upper median of the smaller fork as seen on the 2nd chart basically a double top. However to me this looks like a normal correction back to the resistance now turned support rather than the start of a sustained bear.
Price is still technically in an uptrend as we have not taken out any of the prior swing lows. One could look for a smaller time frame pattern around the current top, but my guess is we will form a small H&S or ascending wedge (some reversal pattern higher to start the next larger correction.
Fwiw.