As Dollar weakens, Euro is making a pull back as consolidation. Continuation of leg 3 going down towards 1.14 support area. Buy and sell opportunity can be taken at support and resistance levels. However dont miss the big trade going down between .618 and .50 of fib.
Dollar is making a consolidation preparing for the next big move.
Buy Euro till previous support resistance. Then sell at resistance to form the third leg.
This is a reversal trade for EUR_USD. Down as much as 1.27 fib. with a strong support down at this level.
My fundamental analysis on EUR_USD prior to Mario Draghi speech this week.
Pound to retest the major support for the 4th time going for the pull back. And if the resistance above is weak might go all the way to previous low.
EUR_USD: Bearsih Butterfly still valid. Watch out for this structure to test to the upside
It looks like another bearish butterfly in the making eh? Pattern is valid if price action failed to move higher at .786 level Buy at the previous support .382 level and TP at the resistance level 1.27 or below. Sell at the resistance 1.27 level with more move to the down side (watch out your entry price)
Bearish Butterly Idea. Possible bullish move to the upside from .382 support and could move higher to the resistance line
Bearish Butterfly Analysis. Pattern is valid if the the wave move past .718 Long and Short opportunity awaits. Trade with care
Potential Bearish Bat Pattern on the way.
EUR_GBP: Bearissh butterfly on the way at the 4H. Will this invalidated the pullback of EUR to the upside? Trade with care.
GBP_USD: Consolidation on the way. After creating a bearish bat pattern and 5-wave move down. The pound is is consolidating preparing for the next move.
EUR_USD: 5-wave move completed. Waiitng for the next consolidation and the next 5-wave move.
EUR_AUD: 5-Wave analysis. Big move on the downside on wave 3. Two wave patterns is being analyze, which one you think it will go. This is for your educational purposes only, trade with care.
DXY: Dollar Index on the rise. My 5-wave pattern analysis for dollar index. This is for education purposes only.