It may appear wonky on this daily chart that the Euro just acts the way it wants and can seem unpredictable in how it ranges and "breaks out" that if it does decide to trend in a particular direction the snap backs are vicious and it would appear to lack respect for support and resist points.
So if any pattern can be gleaned off the charts here the price action points out how its been acting since 9/11/17 and by this we are talking about how it acts on the daily chart
- The mini peak at 1.20804 allowed for reversals and continuations to the downside which were longer in height and intensity (more powerful sell offs)
- The throw backs to the upside retraced 50 to 65% of the dominant move down, so it would give the impression that the path of least resistance was to the upside, ESPECIALLY on the bullish candle we printed on 11/14/2017 last week's push was slightly deceiving
The swings have been one way or another, so in my view it doesn't act well in the sense that it wonks around and has more of a bulky and rectangular action, which is ok with excellent setups and a good feel for where we are at this point in trend
This sell the rally and buy the LOWER dip is still a good practice to have when the dollar index lurches higher here and there.
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