EUR this week

Good Morning Dynamic Traders

I have decided to leave the CHF, but I will be keeping the chart on my watch list and will still trade with the CHF if and when the opportunities arise.

I have decided to follow the EUR this week, so let’s have a look at recent events and then pick the EUR apart a bit throughout the week.

I’m going to start off by looking at the weekly chart which can be found below! Price performed a huge drop and then it climbed to a breather level. Price then dropped again and shortly afterwards it climbed yet again and came to another Fib breather level. Price is currently in a downtrend, but for how long?

In the daily chart below you can see the same Fib breather levels that we saw on the weekly chart. I have also marked on the chart a trend line, which price seems to be using as a guideline. Price is clearly in a downtrend on the daily chart, but how far will it drop.

Over the next couple of days I will go through the behaviour of the EUR and where we should have been standing to collect profits.

Happy Trading

Richard Monnery