???URO update (US session) – $EURUSD $6E_F

Currently bouncing back as I´m writing.

Yesterday, I´ve marked 2 different areas for the downside scenario:



1.2918-1.2894 (stronger area)


Columbus Day Holiday did not provide much. However, range expansion has penetrated on the first area, while interested buyers have started to defend it (1.2917 at teh time of writing). According to my methodlogy,  It makes sense to have a bounce in this area where there´s a combiantion

– extreme range (white channel)

– Support. Specially it is interesting to note that the inflection point concides with the purple dotted line, which denotes a POC (Point Of Control). There are several POC´s marked alongside my charts.



Although an important retracement, I do not see many sellers (at least for now). I would personally expect a retracement to (at least) 1.2960-1.2980, which at the moment is the Line In the Sand to define a new trend.



Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s