A quick update on EURUSD, where RSI is at the lowest level. The chart shows a double bottom pattern which needs to be confirmed with the next candle.
If that is the case, the neckline is at 1.369 and after a little pull back to 1.366, we may be very much in a situation where from 1.366 the way would be cleared until 1.372 and 1.375. From 1.355 to 1.375, we would achieve the initial objective. The second one being 1.385-1.388 before ECB intervention, the clear end of QE3 in october, and a reversal of Euro to 1.355, 1.33 and baring in mind an eventual increase of the interest rate by FED from 1Q15, bellow 1.30 . But we are not there yet.
If that is the case, the neckline is at 1.369 and after a little pull back to 1.366, we may be very much in a situation where from 1.366 the way would be cleared until 1.372 and 1.375. From 1.355 to 1.375, we would achieve the initial objective. The second one being 1.385-1.388 before ECB intervention, the clear end of QE3 in october, and a reversal of Euro to 1.355, 1.33 and baring in mind an eventual increase of the interest rate by FED from 1Q15, bellow 1.30 . But we are not there yet.
