Euro weakness

On Friday's forex analysis we mentioned about the fakeout possibility. We now know it was a fakeout and the market has moved to the downside. We need to try to analyze if this is just a breather or the end of a 5th wave.

The levels of support are on the chart below. Should we close below the supports then we could find further weakness. If we bounce then we could see a start of a continuation. XTL has changed to black and Osc has weakness.


Chart courtesy of Advanced GET. Data provided by eSignal.

Good trading.

Forex Analysts
Javid Shaik & Anne Chapman