Chart Prepared by Jamie Saettele, CMT
The fixing extent since the May high could make a triangle inside of a bigger development from the March low." A more extensive territory does obviously stay conceivable however with EURUSD breaking bolster this week, one must consider a more prompt bearish option. Correlations with 1997 (pre euro exchanging yet a figured worth is plotted) value conduct are striking. In both 1997 and 2015, the rate dove out of the door into March. Week by week RSI enlisted extremes the weeks of 3/3/97 and 3/9/15. Resulting redresses extended into the weeks of 5/19/97 and 5/11/15. In 1997, EURUSD dropped pointedly into the week of 8/4 preceding turning around strongly to come back to its May high. In the event that something comparable happens here, then EURUSD would exchange down to around .9840 in August before exchanging back to 1.1450+.
This EA is a Multi-Timeframe, Multi-Symbol robot which plays Donchian Channel breakouts.
