Ok so instead of staying long at this point you would recommend to sell now and buy back at 1.1792?

EURUSD only

Pretty close, but it closed at 1.1809 > 1.1806.

EURUSD only

However, you show an inverted (broadening) triangle which is a continuation pattern of the underlying trend, which is bullish. Hence breakout to the upside is more likely.

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Hahaha, now I understand where you guys have this stuff from... And macdulio is probably the trader which comes from the furthest of all galaxies.

EURUSD only

Looks like outta space See you at 1.1875

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Well it moves based on fiscal spending and QE expectations and those two do in fact heavily depend on the Covid development.

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Seems the support is winning for the time being, implying the market plays increased FED and fiscal expectations due to the Covid explosion in the US.

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There might be a fight of these two lines here. Currently the levels are 1.1762 support vs. 1.1774 resistance, so the decision might come quickly as the range is tight.

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USA covid infections now rising (+144.000 latest), might go exponential, implying more lockdowns and more fiscal. In continental Europe in the other hand Covid is slowing (check e.g. Netherlands and Belgium which were hit first by the second wave). ...

EURUSD only

bull flag my friend

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Evaluating your statement three hours later I have to say the pattern wasn‘t down...

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Ok thanks, I evaluate your answer after the next two hours..

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Can anyone see a good pattern in the last two hours?

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This is quite far away for being the most deciding level. Chances of a close above this level are extremely low, don't you think?

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Looks like a furious fight between many bears and some bulls now. Can't tell who will win going into the close.

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And there were no relevant news actually for such a rather large move.

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Looks less bearish at the current point if you draw the support line through the last 3 lows.

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Now we have nearly reached 1.1760-65 range which will hold in my view.

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M5 now looks kind of an inverted H&S if it bounces back. Not sure if it fulfills all the conditions. Edit: Not any more.

EURUSD only

This would be quite a big drop. First it would have to pass 1.1765 area in case it drops down.

EURUSD only