As can be seen in the chart, the price of this pair is approaching the next zone of value 12225-12166, which for me is the place where the current declines should end. We are waiting therefore for the market reaction to the above-mentioned support. What would be the first sign of reversal? Classic - overcoming the area of 12305, where the nearest major resistance is located. On the other hand, if the support zone would be defeated, this will be the first serious signal of the reversal of the upward trend in EUR/USD.
Commentaire:
Perfect call. held long since last week Friday weekly close. At new extremes, trade considered close. Profit-taking may translate into brief corrections of recent price moves. Signal was posted directly on my webiste and instagram.