Yesterday’s EUR/USD contained 2 price points above, 1.1960 and 1.1979. EUR/USD reversed at 1.1960 and bolted 18 hours later to 1.1885. Yesterday’s assist lower was the result of breaks at 1.1942 and 1.1913. Once 1.1913 broke, EUR was able to travel lower for an overall 75 pip move.
The target yesterday was 1.1879 based on this particular model but mentioned was 1.1879 would possibly fall just short of its objective. Yesterday’s trade was marked as perfect and for gazillions of new readers, every trade is perfect as we remain years later, serious traders. Trades are games of ping pong, Statistical Price Paths as I call it, as we take longs and shorts continuously. Under question was yesterday’s volatility comments.
Today’s overbought 5 day average at 1.1845 targets 1.1905 but this target was achieved today. To travel further to targets, what remains below is 1.1875, 1.1843 and 1.1829. Today, 1.1875 was also achieved so 1.1843 and 1.1829 lingers as outstanding. Above 1.1921 exists.
The short term daily model informs 1.1887 must break to target 1.1878, 1.1864, 1.1847 and 1.1821. Forget 1.1829 and 1.1821 achievement today and view 1.1847 and 1.1843 as bottoms and bounce points.
Above must break 1.1931 to target 1.1947, 1.1968 and the Max top point today at 1.1997 . Although specified, 1.1997 won’t trade today.
EUR/USD vital break points overall are located at 1.1798 and 1.1710. Breaks are needed here to see shorts gain speed. Above, the 5 year average is located at 1.2026.