FOREX PRO WEEKLY May 18-22, 2015

[Sive Morten]

Oh One other thing now Sive. I am trend trader using Weekly predominantly to determine trend direction. We now have nasty weekly 'Black engullfing candle' on Euro after 5 consecutive weeks of upward retracement from your 1.05/1.27 support on Monthly. Although we have monthly engulfing in April from this support the ultimate destination of euro according to your analysis is 1.618 (parity..right!?)
Q. Now we have this weekly engulfing candle does further upward retracement towards 1.18-1.22 area not become under doubt!!?

Hi Brett,
within few minutes I'll post weekly research. There you will find our opinion on this subject.