Published 7h February 2019
The main conclusion remains that the EUR/USD will most likely resolve to the downside. The most likely paths Southbound changed only slightly.
A double-three pattern could be complete as depicted by the red scenario. The EUR/USD is ready to let go if a double-three played out over the past five months. Alternatively, a triangle still unfolds. It is important to keep a close eye on the downside action. The triangle must not cross below the bottom area of the pale grey sideways channel. The red scenario does that! Nevertheless, the key takeaway is that both patterns resolve to the downside.
The downside target after the resolution will be probably below 1.08. We’ll take that step by step if our forecast proves correct.
The analysis above is a historical abstract of our EUR/USD Premium Analysis. Subscribers can access multiple timeframes, which are not displayed on this page.