Stag
Sergeant
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Morning guys, PassPP asked me so a quick update again on my last week post.
Intraday
The Euro followed my preferred scenario and took a sharp reversal in the red target zone advancing in an impulsive manner from there, exceeding my minimum price target.
To make it short, as long as prices are trending above 1.168x chances are that the Euro will try to reach the dark green zone or even beyond. Breaking below 1.168 would open the door for further weakness towards back below 1.16.
Weekly
If you apply the KCT technique on a daily chart or above, you can see an attempt of a break above the yellow price channel. Closing above on the weekly timeframe would be an early sign of further bullishness (see Fib 38-62% levels). So worth watching for weekly close.
Good luck!
Hi guys, I'm back now and just wanted to show you why the Euro is in a tricky phase approaching a critical juncture if you apply the KCT technique. Prices still can go higher, but MACD shows an early sign of a potential zero line reversal may be under development (bearish sign, still needs a few more sessions).
Daily