I have drawn out a guess for how the EURUSD will advance back to the 1.13-1.14 area.
I draw reactions from clusters of time and where there is low time and draw a progression of about 16 days similar to the number of days at the mode across March through April.
The secondary reason for this chart is today's "Range Expansion Down Day" that started from a "HIGHER LEVEL" than the last one (marked in a Purple Triangle). If you get aggressive selling at higher levels, then the market isn't controlled by the sellers, rather the buyers are in control and the sellers are "hoping".
For those of you new to trading, always keep a close eye on what news is due and watch how the market reacts to it. You can tell how strong a market is by how it reacts to news. Bull markets have small down days on bad news (or even a small up day) and rally strongly on good news days. Bear markets reveal downward price action on good news (or even a small up day) and move down strongly on bad news days.
I draw reactions from clusters of time and where there is low time and draw a progression of about 16 days similar to the number of days at the mode across March through April.
The secondary reason for this chart is today's "Range Expansion Down Day" that started from a "HIGHER LEVEL" than the last one (marked in a Purple Triangle). If you get aggressive selling at higher levels, then the market isn't controlled by the sellers, rather the buyers are in control and the sellers are "hoping".
For those of you new to trading, always keep a close eye on what news is due and watch how the market reacts to it. You can tell how strong a market is by how it reacts to news. Bull markets have small down days on bad news (or even a small up day) and rally strongly on good news days. Bear markets reveal downward price action on good news (or even a small up day) and move down strongly on bad news days.
Subscribe to my indicator package KEY HIDDEN LEVELS $10/mo or $100/year and join me in the trading room KEY HIDDEN LEVELS here at TradingView.com
