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Published on Nov 1, 2016
The
Euro broke higher during the day on Tuesday, clearing the top of the
hammer from the Monday session with that being the case, looks as if the
market is trying to go higher, and it’s very possible we may bounce all
the way to the 1.1150 level. An exhaustive candle above should be a
nice selling opportunity, as the resistance above is massive. With this
being the case, I am simply waiting to see exhaustion as it could
continue the longer-term downtrend. Ultimately, this is a market that is
probably reacting to the presidential polls in America more than
anything else, and quite frankly this should be a “knee-jerk reaction”
that we can take advantage of at higher levels. I don’t think vicinity
easy, but I would be very surprised we didn’t turn right back around and
start falling soon.
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