Charts and analysis, page-270

Interesting price action of late.

Sign of trend reversal or shakeout before next leg up?

The speed of which EUR was sold down then speed that buyers came out of nowhere yesterday did look like a shakeout.

In a distribution phase the sp will be held up for as long as possible to offload shares at highest possible price.
A quick sell off suggests the MM is unwilling to drop more shares than they need on the way to catch as many stops and weak holders as possible.

Considering news is due soon this may put more weight behind the shakeout option too. However recent price action has certainly been negative.

Either way, I think we won't need to wait long to get clarity on the direction.

Currently the sp has found support on a key level at the 50MA and 0.5 Fib level too - let's see how lucky 50 is...

DYOR
GLTAH