Guest Commentary: How to Make Money Out of a EUR/USD Ratchet
* It should therefore to continue to make new highs without momentum.
* When price action is erratic like this, history is a useful guide to the next opportunity to buy or indeed sell.
The Euro remains within a recovery to spike the 1.3170 high following the price action from the ultimately bearish Pandora's Box analogy with synthetic price action now from November 1996.
As such the rally is likely to slow for the next week probably fading successive new highs like this but holding above the pivotal 1.2825 support.
So although the Euro held the 38.2% retracement of 1.2875 it has maintained an uncanny match with price action below 1.2825 and therefore suggests it may still be within an irregular correction. So having hit a minor c=61.8% of A new high today of 1.3028 there is a risk of another retracement this time to a 1.2910 c=a.
Tempting though it may be to sell short term today, we will buy this drop for new highs ultimately through current 1.3055-70 resistance to spike the 1.3170 high. Where we wrong? below 1.2810-25 pivotal support.
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