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by Seth Parker on October 8th, 2018

EURUSD Analysis – That was a great call!

Time to talk about the most popular instrument on the Forex Market – EURUSD. For the last time, we mentioned this instrument on the 27th of September and back in that day, we were very negative about the future of this pair:

“That all together brings us a mid-term sell signal, which will be active as long as we will stay below the yellow area. „

eurusd chart

When, we wrote those words, the price was on the 1.17. Currently, we are almost 200 pips lower and we still have a chance for a further drop. Great call, huh? Since the previous piece was written, the price was mostly going down. The most recent development is a flag formation (red lines) on a super important horizontal support on the 1.151 (orange). That should definitely result with a further drop and any other option would be a great surprise. After the successful breakout of the orange line, EURUSD should aim for the lows from the mid of August. The price reaching that area is very probable.

By Seth Parker

Seth is a professional trader with over 10 years of experience. He specializes in the technical analysis. His main focus is on the pure Price Action. In his trading, Seth used the trends, supports and resistances and technical formations. Always, the most important thing in his strategy is the money management. Seth reached a proficiency in trading and for the past three years is doing that for a living enjoying the sun and lovely beaches of the Spanish coast.

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