Friday, October 30, 2020 5:40 AM EDT
The EUR/USD has formed the IP Retracement Pattern 1 and if the market rejects from 9 % fib we could see a move up.
IP1 is formed when the market hits 23.6% fib and then rejects to 9%, with the target being at 50.0% fib. There are a total of four IP retracement patterns. This is the IP1 and we could expect a bounce if the market holds above D L3 – 1.1641. The target is 1.1743. However a break below implies continuation down towards 1.1611.
(Click on image to enlarge)
Disclaimer: The opinions in this article are for informational and educational purposes only and should not be construed as a recommendation to buy or sell the stocks mentioned or to solicit ...
more
Disclaimer: The opinions in this article are for informational and educational purposes only and should not be construed as a recommendation to buy or sell the stocks mentioned or to solicit transactions or clients. Past performance of the companies discussed may not continue and the companies may not achieve the earnings growth as predicted. The information in this document is believed to be accurate, but under no circumstances should a person act upon the information contained within. We do not recommend that anyone act upon any investment information without first consulting an investment advisor as to the suitability of such investments for his specific situation.
less
How did you like this article? Let us know so we can better customize your reading experience.