EUR / USD : update Cylindrical Study
The objectives of tracing bullish in the short term we announced
in our last survey in mid-November have all been achieved:
Bullish targets calculated on the Fibonacci ratios,
would be located on the levels of 1. Protected content 1. Protected content 1. Protected content 1.4610.
The EUR / USD should immediately reverse:
The presence of seven consecutive increasing daysbreaking the level of 1.30, the probability of a new Evening star pattern, the doji on a daily chart, the fact we have reached the 1. Protected content , the potential for double top with the most senior sessions late September, the meteoric rise representing twenty-two figures increase in 15 ° Gann degree, or 17% increase in the european currency in two weeks only, for all that reasons, we would anticipate an immediate reversal bearish EUR / USD.
The objectives bearish short term:
The bearish targets based on Fibonacci ratios would be located on the levels of 1.4180, 1.3880, 1. Protected content 1. Protected content bouncing. Conversely, a key crossing support located at 1. Protected content our bounce prior to achieving our ambitious goals and more bearish given below.
Our strategy remains bearish in the medium and long term:
Our medium term strategy remains bearish. The objectives would be bearish position on the levels of 1. Protected content 1.1200, or close to parity for the year Protected content . The level of 1. Protected content our support and cylindrical materialize 50% of the entire increase in the EUR / USD since the level of 0.8228, its lowest historic October Protected content 1. Protected content the treaty last summer.
The limits of our strategy:
Conversely, continuing the upward trend initiated last fifteen days in the very short term beyond the level of 1.50 would put our fallback scenario immediate danger, or even invalidate permanently above the 1. Protected content . This point represent a 0.75 Fibonacci ratio of any increase in European currency since late October.