Hey Traders,
Euro is trading back above 20, 50 and 200ema now with 20 crossing back above 50:
What this could be:
- Rising wedge that just got backtested (target 1.41)
- Bear flag (Target 1.32s)
- Also in ambush (50-61%) retracement zone from 6/11 highs. (Target 1.363s)
Top of the channel 1.34 area should be key in deciding further direction. Or retracement to the bottom of the channel and fib from the lows in 1.385
What Dollar does at this retracement area trendline should be key in determining further direction for euro as well as gold and equities
Just thinking “out loud”
Vlad