no no no the mask fell off EURUSD, we couldnt make an upmove from the trendline. now we have made a lower low. I hope it will retouch the trendline or will come near it and i will short.
pic from yesterday
the move up to 3 and down to 4 are both high momentum moves and this is characteristic of a range, so it is likely that test of the high will end as double top and even if there is breakout above the double top it will fail and it will begin ranging and therefore retest the low marked 4
i think this will happen because big directional moves are not a characteristic of eurusd 85 % of the time.
if you see below left,the context to this move,the spike has started from below the channel or range, to above it. so it is very likely that after the test of high it will test the breakout of the spike above the range
on the chart it has been ranging so there may be a gradual change into an uptrend but not an abrupt opne
i put that 85% number to impress you...it may be 82 or 92
most traders are looking for big impulse moves because they wish it but the market and especially eurusd is not so charitable to oblige and the resulting mess that euro generally makes is to confuse and frustrate the trader, who just wants to earn his daily bread.
euro is one nasty.
