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7 Mar 2014
Flash: Euro’s North Parameter: 1.3980 - FXStreet
FXStreet (Barcelona) - Goncalo Moreira CMT, FXStreet Technical Analyst notes that the EUR/USD 3-box reversal chart, is unambiguously bullish considered that there are not negative 45 degree resistance lines.
Key Quotes
“The recent structure consists of a series of double-top signals separated by just 4-box negative columns, whereas the ascending columns are 9,7 and 6 boxes high.”
“The catapult pattern mentioned last week as been on the built since end of December with the North parameter 1.3980 based on an horizontal count since February. Any attempt to threaten the internal line now at 1.3620 would possibly create a target to the downside. But the fact that we can't find one on this 60 minute 3-box reversal is definitely a bullish omen.”
“The uncontaminated supply and demand landscape from the 1-box graph takes out all the intra-hour spikes and range trading periods and the sustained move above the 1.38 resistance becomes crystal clear.”
Key Quotes
“The recent structure consists of a series of double-top signals separated by just 4-box negative columns, whereas the ascending columns are 9,7 and 6 boxes high.”
“The catapult pattern mentioned last week as been on the built since end of December with the North parameter 1.3980 based on an horizontal count since February. Any attempt to threaten the internal line now at 1.3620 would possibly create a target to the downside. But the fact that we can't find one on this 60 minute 3-box reversal is definitely a bullish omen.”
“The uncontaminated supply and demand landscape from the 1-box graph takes out all the intra-hour spikes and range trading periods and the sustained move above the 1.38 resistance becomes crystal clear.”