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  • Writer's picturePeet Serfontein

Analyst Thoughts: EUR/USD Medium-term

VIEW RETAINED FOR A FORECAST OF THE BEAR TREND'S CONCLUSION, FEATURING TWO PROBABLE PRICE SCENARIOS.

  • The expected completion of the FK bear trend has materialised.

  • Two feasible alternatives might unfold:

1. The illustrated 1,2,3,4,5 bull trend to RA1 has potentially been activated after the break of F and S0*. A sharp upturn off S0* and breach of L will confirm this outlook.

2. The LP formation is an overlapping bearish continuation pattern that should lead to further downside to S2. A breach of S0* and P will activate this outcome.

  • S0* is the pivotal level.

Target and Re-assessment Levels:

Important Levels: S0*

Primary Trend and Target Levels: Gains to RA1, then down to S0*

Monthly Range: R1*/S0*

Prevailing Trend and Target Levels: Gains to R1

Technical Rating: Medium



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