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  • Writer's picturePeet Serfontein

Analyst Thoughts: EUR/USD Medium-Term

FORESEEING A BULLISH PRICE ACTION FOLLOWED BY A CORRECTION.


  • The preferred view of a bull trend to RA2*, followed by an impulsive downside to S2, remains valid.

  • The longer-term view is for wide-ranging conditions between RA2* and S2

  • The interim expected phase B bearish corrective phase has tested and reversed off the pivotal S0* level.

  • A sharp break of trend line X is required to activate phase C upside to RA2*.

  • This should be followed by a 1,2,3,4,5-bear trend to S1 and S2, as illustrated.

  • S0* remains the pivotal level for the view. A break of this level would signal a downside to S1/S2.

  


Target and Re-assessment Levels:

Important Levels: RA2* and S0*

Primary Trend and Target Levels: Gains to RA2*, then down to S2

Monthly Range: R1/S0*

Prevailing Trend and Target Levels: Bullish reversal on a test of S0*

Technical Rating: Medium



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