2015-12-12_00-01-01eurusd

Price is moving sideways on this pair for three days now. In my opinion this might mean that price is overextended.

The euro pair moved to new highs against most other pairs but not against the usd. So I would advice some caution.

The stochastik is already at the 80 % level so I think that now price might retrace. If the cloud does not hold price then it will probably go until number 3.

If the retracement is halted by the support of the cloud then the target would be the blue number 2 where probably the 200 moving average will be situated.

Best of PIPS

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.