Must See For EUR bears

ECB boss Draghi has spoken once more last week. Jawboned the EUR lower. But the effect lasted a couple of hours until the Fed had its turn. So, if you are a EUR bear in June 2019 you must see this chart.

EURUSD weekly chart showing double channel support

I know trendlines and channels only work when they work and I don’t really like them all that much. But like anything in technical analysis they are just a tool. I think Burak from tradingchannels.uk would be proud of my analysis.

Double Channel Support

So consider the blue channel to possibly guide the EURUSD higher in an ABCD. we might have just recently completed a huge retracement and bounced off of double channel support for the continuation move to >1.30. Not unthinkable at all.

Disclaimer

* Remember, I don’t give investment advice. These are not trade recommendations. I write these posts for joy and entertainment. Always take responsibility for your trading decisions and analyses and don’t ever blame me or anybody other than yourself. I might or might not be positioned in the instruments I write about.

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