Context:
Eur/Usd remains bearish , however the current rally from the lows brought us yet again near the major
resistance level at 14520 , we made a series of higher lows but price is somewhat contradicting at this level
which will lead to a momentum driven breakout , if that breakout occures to the downside and price gets
rejected at or near the 50% mark of 1120 , we have a sign of a shakeout before the next big advance,
a breakthru that 50% level will casue price to test the low at 10800 and maybe the support level of 0500
a breakout to the upside will be a major sign of strenght and a test of the major supplyline will be the result
at 1800 ish.
Signs of strength:
rally off support
higher low
Signs Of weakness:
contradiction of price near resistance
Support:
11200
08000
05000
Resistance:
14520
18000
22400
www.invezted.com
Eur/Usd remains bearish , however the current rally from the lows brought us yet again near the major
resistance level at 14520 , we made a series of higher lows but price is somewhat contradicting at this level
which will lead to a momentum driven breakout , if that breakout occures to the downside and price gets
rejected at or near the 50% mark of 1120 , we have a sign of a shakeout before the next big advance,
a breakthru that 50% level will casue price to test the low at 10800 and maybe the support level of 0500
a breakout to the upside will be a major sign of strenght and a test of the major supplyline will be the result
at 1800 ish.
Signs of strength:
rally off support
higher low
Signs Of weakness:
contradiction of price near resistance
Support:
11200
08000
05000
Resistance:
14520
18000
22400
www.invezted.com
