Technical analysis of Euro/Usd forex – bears time!

Lets take a look for euro/usd chart in the long period of time – it was assumed last 600 sessions – photo nr 1.

Its quite important place and time where we are. Now the rate is being tested a crucial supporting level which is  “1.12”

Thats a good chance for bears to tramp it down and leave out the reactangle with a big sound (1.12 – 1.16 area).

Destination target to acheive is 1 -1.04!  is it sound unbelievably? We will see!.

 

Additionally  the newhach’s indicators shows  visible “S H S” formation, which forecasts falling off the market.

fig.1. technical analysis euro/usd  –  last 600 sessions
fig.2. newhach’s indicator – SGS formation visible

 

 

 

 

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