EUR๐ช๐บ / USD๐บ๐ธ potential short continuation for Fiber
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For Fiber you see on graph at 1D a mirror image of the left side (03/2020 - 06/2021).
It is respecting exactly the movements made previously, including the consolidation zones, just like the one in which we are now.
Once the Pennant size is broken now one could expect a significant increase in bearish volumes, bringing the price of the Old Continentโs currency to 1,0815 (important support).
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Note the close correlation with the US economy (direct competitor of the exchange rate), which destroyed the previous maximum from September 2020, with a rally that from 29 October 2021 has projected the index from 93 to 97, earning almost 4% in a month (see update idea).
Just like for Fiber, the Dollar Index is in a phase of consolidation, creating the same Pennant at 1D.
Potentially a possible explosion of bullish volumes could push the US Dollar to the wall of 100, creating the projected sell-off for โฌ.
The epidemiological issue is also not in favor of the blue flag, already France and Italy are now on the list of countries most at risk of the "Centres for Disease ad Prevention USA".
Representation of a personal idea, is therefore not to be considered neither an investment suggestion nor a financial advice.
For Fiber you see on graph at 1D a mirror image of the left side (03/2020 - 06/2021).
It is respecting exactly the movements made previously, including the consolidation zones, just like the one in which we are now.
Once the Pennant size is broken now one could expect a significant increase in bearish volumes, bringing the price of the Old Continentโs currency to 1,0815 (important support).
๐บ๐ธ
Note the close correlation with the US economy (direct competitor of the exchange rate), which destroyed the previous maximum from September 2020, with a rally that from 29 October 2021 has projected the index from 93 to 97, earning almost 4% in a month (see update idea).
Just like for Fiber, the Dollar Index is in a phase of consolidation, creating the same Pennant at 1D.
Potentially a possible explosion of bullish volumes could push the US Dollar to the wall of 100, creating the projected sell-off for โฌ.
The epidemiological issue is also not in favor of the blue flag, already France and Italy are now on the list of countries most at risk of the "Centres for Disease ad Prevention USA".
Representation of a personal idea, is therefore not to be considered neither an investment suggestion nor a financial advice.
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๐ช๐บReturning to the basic idea if we move to 1W chart we clearly see that there have already been three weeks almost insignificant in terms of trends, all closed substantially like candles Doji,for the moment this week is slightly bearish but entry should be evaluated on smaller timeframes.
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The entry could be evaluated based on a downward break and a retest of the Pennant pattern.๋
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