Today the currency pair has closed above both the down trend channel and the static support. As consequence, I’ve closed both the short positions that I opened on 19 September and the one I’ve opened on 16 September. Heavy losses. Now I’m able to drawn e new short term up trend line. I’ve opened a long position in the EUR/AUD (price=1,4485).
Daily EUR/CAD candlestick chart. The price movement is below both the medium term trend line and the short term trend line. Today there has been a penetration of the static support (the last relative low). But the daily close has been above the threshold. Searching a new bottom …
Daily EUR/GBP candlestick chart. From March to July the currency pair has been steadily falling under a medium term down trend line (downtrend). This trend line was pierced for the first time on the first of August. Then the movement has been stuck in a flat market. Today the price action has formed a pin bar (aka hammer), with the daily close (0,78744) above the static support (0,78732). The static support has endured the penetration attempt (so this currency pair technically is still stuck in a flat market), but the pin bar may be interpreted as a beginning of a strong reaction. May be …
Daily EUR/USD candlestick chart. The currency pair is now in a strong down trend. Recapitulating what’s happened in the last two weeks:
All the price movement was under the medium term down trend line …
Today I’ve closed my long position in the EUR/CAD in huge (virtual) loss (there was a daily close under the last relative low), only to realize after a few seconds that may be there are a triple bottom and a hammer on the static support. May be. I’m waiting for the daily close to open a new (virtual) long position in the EUR/CAD … so much mess in my mind …
The Happy Trader 