[Branch closed!] EURUSD - Trends, Forecasts and Consequences (Episode 4) - page 301
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Get to the root of it.)
Get to the root of it.)
(will you finish it?) )))
Yeah))
Yeah)
Sorry, not much, or rather, no idea about waves, but as far as I know, the wedge is a 1-wave pattern, and on the chart, it completes the movement. Explain, if you don't mind.
Sorry, not much, or rather, no idea about waves, but as far as I know, the wedge is a 1-wave pattern, and on the chart, it completes the movement. Explain, if it is not difficult.
Well, why exactly in the 1st wave... it may occur everywhere. Yes, you're right, it's not uncommon for it to act as 1 wave, but not in this case...
The single European currency strengthened against the dollar. The reason for this was the announcement by French President Nicolas Sarkozy that a significant breakthrough had been made regarding the Greek debt crisis. The Euro has gained against 15 of its 16 main competitors. As Sarkozy pointed out, the Ministers of Finance have managed to secure an agreement to attract Greek bond holders to a new batch of financial support. German Chancellor Angela Merkel said that her country is ready to make a compromise with the European Central Bank. The Euro gained 0.5% against the Dollar and held at $1.4280 and against the Swiss Franc gained 0.7% and traded at 1.2130. The current euro/dollar exchange rate is $1.4299. Source: Forexpf.ru - Forex News
Source dubious (
The growing threat of a Greek default continues to weigh on the single currency. Now it is trading above the support area 1.4010 - 1.3819 (1.4010 - 200-week moving average; 1.3968 - recent low; 1.3819 - 200-day moving average), however the break of this zone will have very serious consequences for the euro, warns Karen Jones, technical analyst at Commerzbank.
A break through the level of 1.3819 will increase bearish pressure, writes Jones, and the closure below this level will be extremely negative signal, targeting the pair at least to the area 1.3492/1.3558 (200-week moving average and the uptrend line 2010-2011).