EURUSD entering multiple support/resistance range (1.1550-1.17) and DAX topping

 

EUR/USD (1.1695) is entering the long term key range of resistance support 1.1550-1.1700 :

  • 1.1715 was the August 2015 Top.

  • 1.1616 was the May 2016 Top.

  • 1.1550 was the Novemberr 2017 Bottom.

1.15 target mentionned in the April 12th post is in sight BUT a (big) corrective bounce could take place any time from the abovementionned  key levels . Down trend remains nevertheless in place. 

 

DAX : 13200 Target mentionned in the May 2d post have been reached yesterday…

Not a good sign to see DAX correcting lower while EUR is weak … MACD Daily shows Bearish signal today ( to be confirmed end of session).