EurUsd:
Over the course of the last few weeks I have bene viewing Eur/Usd a lot on the 4hr, Daily, and Weekly.
Although, today the monthly bias has caught my attention. We are nearly almost done with October and Eur/Usd has dropped significantly in terms of price.
Looking at September (In hind-sight) - it seems to me that it was a fake-out to the upside, enticing retail traders to buy since the market makers are pretty greedy people.
We have a monthly swing low formed @ 1.15540. IF, October closes below that level, there is a good chance Eur/Usd can drop another 400-600 pips to the downside!
From the weekly bias, we have a swing low @ 1.13 - that doesn't necessarily concern me as much because the monthly is way more powerful. Therefore, I am looking for an awaiting breakout to the downside.
Let's see how October closes, some extremely profitable months can be ahead of us!
- Curran
Over the course of the last few weeks I have bene viewing Eur/Usd a lot on the 4hr, Daily, and Weekly.
Although, today the monthly bias has caught my attention. We are nearly almost done with October and Eur/Usd has dropped significantly in terms of price.
Looking at September (In hind-sight) - it seems to me that it was a fake-out to the upside, enticing retail traders to buy since the market makers are pretty greedy people.
We have a monthly swing low formed @ 1.15540. IF, October closes below that level, there is a good chance Eur/Usd can drop another 400-600 pips to the downside!
From the weekly bias, we have a swing low @ 1.13 - that doesn't necessarily concern me as much because the monthly is way more powerful. Therefore, I am looking for an awaiting breakout to the downside.
Let's see how October closes, some extremely profitable months can be ahead of us!
- Curran