Month: May 2016

EURUSD: A New Downtrend Begins?

In the week since we published our last weekly analysis – in which we expected to see a final rally – the market continued its staircase, slow-but-sure decline.

The ending diagonal which looked rather typical a few weeks ago is now coming out of proportion, suggesting that perhaps it had already ended a while back and a new downtrend is slowly, yet confidently, making its way in the market.

We’re updating our counts to reflect the most recent price action and to present tighter targets and invalidation points.

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