Ransquawk

An interesting situation can be seen on the EUR / USD recently, during the ongoing correction. Well, the last few moves up are characterized by a similar number of days in which the price increases. As you can see on the enlarged part of the chart, during the previous three growth rides, the price increased for 4-5 days. Usually, on the fifth day, there was a slowdown or a supply reaction. The current rebound is so far not very dynamic, hence concerns about its collapse, and Friday may be a good time to realize profits from long positions opened this week.

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It is worth treating the presented sequence of candles only as a curiosity because it does not mean that the current pattern will be repeated indefinitely. I would focus more on the correction period that has been ongoing since the end of January. As part of it usually, 4-5 growth candles, meant a quick descent to the lower regions of the correction range. The more the chance increases, due to the weak dynamics of the current rebound, which has its beginning with the perfectly respected trend line.

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