If we look at weekly chart of EURUSD , we see a classical trendline retest (price nicely broke down the trendline in April 2022, with a valid breakdown after Tom Demark criteria).
Price is likely to continue bearish next months. Tom Demark breakdown projection sends us below 1.00.
Price also failed to establish itself in the yearly bull zone - above yearly Camarilla R1, rejecting from there. Typically, from the yearly close, price travels either to above yearly Camarilla R3 or below yearly Camarilla S3
Hence a downtrend to yearly S3 (1.0) is quite likely.
For educational purposes only.
Price is likely to continue bearish next months. Tom Demark breakdown projection sends us below 1.00.
Price also failed to establish itself in the yearly bull zone - above yearly Camarilla R1, rejecting from there. Typically, from the yearly close, price travels either to above yearly Camarilla R3 or below yearly Camarilla S3
Hence a downtrend to yearly S3 (1.0) is quite likely.
For educational purposes only.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.