The EUR Downtrend is over

The EUR Downtrend is over

20 February 2020, 11:12
Daniel Stein
4
343

The EUR Downtrend is over

Today I want to explain how I came to this conclusion

If we check the detailed FX Trend analysis of EURUSD you might think I'm totally wrong

2002_fxt

Especially the high time frames show us healthy and strong downtrends

while only the lower ones recently turned upwards about an hour or two ago.


The picture get's clearer if we consider FX Power and the history lines.

Thanks to our VIP group member Alin I started to think outside the box
and use several different FX Power instances inside one sub-window.

So I added a 3-day and 1-week analysis to my regular 1-day strength analysis and this offers complete new insights.

2002_fxp

So one can clearly see that the EUR strength line of all three instances left the weak zone and crossed the neutral point at 4.5 upwards.

What this means becomes more clear if we have a look at the big chart picture. 

2002_EU

We'll see how this continues but for me it's absolutely clear that shorting the EUR is over for the moment.

It's more likely that we'll see a sideways movement or even some recovery on the EUR pairs during the next days.

UPDATE - 2 days later

EURUSD_2days_later


Update 8 days later - I've read the comments below but I prefer to analyze the market myself

2702_EURUSD

Find the right trading opportunities day by day!
(and learn when to better stay out as well)

1. Visit https://www.mql5.com/en/blogs/post/677671

2. Have a look at our free News Channel -> https://t.me/STEIN_INVESTMENTS_NEWS

Besides the advantage of professional in-depth market analysis provided by my tools,
you'll get access to an exclusive group of skilled and successful traders who are willing
to share their experience and trades with anyone interested.

It takes just two steps to become part of our great and successful community

1. Get your toolset at https://www.mql5.com/en/users/blueball/seller

2. Send proof of your purchase to https://t.me/SteinInvestments
and you'll get your invitation to our amazing group chat

All the best and happy trading
Daniel


Share it with friends: