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EURUSD
Bobby 14:23 GMT 11/30/2023
After a month of a strong rally , eurusd need some correction . There are two options :
– It holds above 1.09000 and tries Up again early in the new month – most important resistance right now is at 1.09400
That scenario might end up in failed test of the previous high , and than we would be moving within the zone 1.08000 and 1.09000 . Break of 1.08000 would lead to the test of Major trendline at 1.06000.
– Second scenario would be better for the Bulls, as a decent correction all the way to 1.08500 in next two days would give it a chance to renew the strength and go for the new highs…
All in all, on the monthly chart, it has a potential for Up, and so far we don’t have a single sign that it might abruptly stop right now…but stranger things used to happen 🙂EURUSD Year’s end
Bobby 20:48 GMT 12/29/2023 – My Profile
Resistance downtrend line at 1.14950 ( dating back to 2008 )
Support line at 1.07300
Lines that you see are “historical ” – I draw them decades ago….just cloning them as time pisses by 🙂
These are the real angles that control EURUSD movements .
We didn’t make them….we are just maintaining them…
Taking into account another historical fact brought to you by Jay – [Trader Alert] Beware of False Starts in the New Year, and some more fundamental facts regarding the health of The Union ( this time European one ) , one can conclude that we should be watching EURUSD grabbing for the Resistance line in first few weeks of the New Year….Ideal development would be to reach 1.14950 and then turn South for another decade at least 🙂 but….it might just stay short of it and do the same…Or, in some diabolic world development, break the resistance and become Bullish…
Now, if the first possibility comes through, we are looking for target at 0.75500 – that is my favourite 😃
Less possible outcome, break above the downtrend line would open the road for about 1.72000….
Now both options would be possible in the perfect forex world…something of forex heaven ….but whatever happens , you can bet that we will try for the low again, get sucked in some sideways to nowhere , play like a yo-yo here and there…
I just wanted to share some light on the current state of this pair and to WISH YOU ALL VERY HAPPY AND MERRY NEW 2024. Let the Force be with you 😃 -
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