eurusd will rise next week about 200 pip then end the week by doji , but still mean it will be get down
it is end by 1.1761
What in the world would suggest that? Let me guess.... Because you believe eur-usd is oversold! Please... We have heard that for the last 12 weeks ( the amount of times in a row that usd has betten eur). When will you guys throw the guessing out the window and begin to focus on price action?
WHEN YOU HAVE A BREAK-AWAY GAP ON THE WEEKLY CHART (@ 1.3240), MEASURE FROM THE VERY TOP (1.3993) TO THE GAP @ 1.3240, WHICH IS APPROX. 750 PIPS. THEN SUBTRACT THESE 750 PIPS FROM THE GAP PRICE , WHICH TAKES YOU TO APPROX. 1.2490. THIS IS USUALLY THE PRICE RANGE, WHERE THE RETRACEMENT STARTS. I HAVE TALKED ABOUT GAPS ON WEEKLY CHARTS IN A PREVIOUS POSTING.
GAPS ON THE WEEKLY CHART OFTEN STAY OPEN FOR MANY WEEKS, MONTHS OR EVEN YEARS (SEE EUR/USD GAPS @ 1.0528 & 0.9802 FROM 2003)
NOT SAYING THAT THE CURRENT GAP AT 1.3240 WILL CLOSE - BUT THERE IS A GOOD CHANCE THAT SOME RETRACEMENT WILL OCCUR. POSSIBLY 50% OF IT. ON MY WEEKLY CHART I SEE A CHANCE FOR THE RETRACEMENT TO GO TO NEAR 1.2880
ANY LARGE GAP USUALLY HAPPENS AT ABOUT 50% OF THE ENTIRE DROP, BEFORE A RESTRACEMENT SHOULD BE CONSIDERED. THAT GOES FOR ANY CHART TIME-FRAME
"a little bit of knowledge is a dangerous thing"