The market seems to be claiming an important correction

2 sept 2017

Long-term trend for EURUSD remains bullish however, an important correction seems to be on the cards.. Looking at weekly chart we can notice how the last candle formed a threatening shooting star (che l'è minga proprio vera) that may bring the pair to lower price values.. I identified 3 supports that could represent potential rebounds in case a correction from current levels will take place: 1.1720, 1.1620 and the psychological 1.1500; this last support, if broken, may represent the beginning of a consistent reversal of main trend.. I personally believe following the trend is the most convenient approach, I am therefore waiting for the above retracement levels to open new buy positions.

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