Euro targets 1.1185 with AB=CD

4 thg 6, 2015

I would expect the correction to survive longer, but this one was a bit weaker, ain't it? Anyways the previous A-B-C was a sideways pattern, so this one's being sharp isn't a surprise. I don't expect any more complex structures here as AB=CD pattern meets the previous resistance, although it may pierce down a little bit more.

I am more inclined to forecast news by looking at chart patterns rather than forecasting the pattern out of the news popping up. So, let's see how geopolitics will react my buy order.

RESULT:

+85 pips in 10 hours.