EURusd -Euro FX/U.S. Dollar -Daily -Time At Mode Rally Time Exp
Rally Time Expired on Friday when 15 days ended from the 15-day consolidation that I had shown here.
I have done a meticulous chart of the exact time at mode and there are actually 16-days, so either way, we are close to the end here. What I have added are the "Range Expansion PURPLE TRIANGLES" that show key levels of resistance on the way down from back in January. You can see those levels were tested on both occasion by rallying into the middle of the triangle, before turning back down. What is interesting is that we just turned down from that level again here at Friday's high. So, the market has re-tested a key SELLER and has confirmed so far. More confirmation will come in the form of making lows under previous day's lows, closing under previous day's lows, then range expanding to the downside again. Confirmation takes many forms and plenty of time.
Either way, if you want to follow more commentary on this and more - join us in the Tradingview "KEY HIDDEN LEVELS" chatroom that I moderate. I point out key levels in many stocks during the day and provide far more information about where to see support or resistance in stocks and indexes.
Cheers,
Tim
11:00AM Monday, May 18, 2015 1.13630 last EURusd
I have done a meticulous chart of the exact time at mode and there are actually 16-days, so either way, we are close to the end here. What I have added are the "Range Expansion PURPLE TRIANGLES" that show key levels of resistance on the way down from back in January. You can see those levels were tested on both occasion by rallying into the middle of the triangle, before turning back down. What is interesting is that we just turned down from that level again here at Friday's high. So, the market has re-tested a key SELLER and has confirmed so far. More confirmation will come in the form of making lows under previous day's lows, closing under previous day's lows, then range expanding to the downside again. Confirmation takes many forms and plenty of time.
Either way, if you want to follow more commentary on this and more - join us in the Tradingview "KEY HIDDEN LEVELS" chatroom that I moderate. I point out key levels in many stocks during the day and provide far more information about where to see support or resistance in stocks and indexes.
Cheers,
Tim
11:00AM Monday, May 18, 2015 1.13630 last EURusd
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