The Euro-Dollar is in a clear cut Bear Market on the weekly, with a peak formation, at 1.117, trading off the 30 week ema.
The Pair is in a clear cut Bear Market on the daily, trading off the top formation at 1.08 to 1.095. Appears to currently be in the middle of the second of three pushes down starting off the last weekly peak formation.
The Pair is coming out of a consolidation/peak formation on the four-hour. Looks like it would consolidate coming out of the weekend, and put in a set of stair steps lower towards the lower down trend line over the coming week before bouncing for a large upwards correction back towards the upper down trend line.
This is my EUR/USD look ahead for my own trading purposes. FOREX trading involves risk. Feel free to comment, but trade off of this post at your own peril.
The Pair is in a clear cut Bear Market on the daily, trading off the top formation at 1.08 to 1.095. Appears to currently be in the middle of the second of three pushes down starting off the last weekly peak formation.
The Pair is coming out of a consolidation/peak formation on the four-hour. Looks like it would consolidate coming out of the weekend, and put in a set of stair steps lower towards the lower down trend line over the coming week before bouncing for a large upwards correction back towards the upper down trend line.
This is my EUR/USD look ahead for my own trading purposes. FOREX trading involves risk. Feel free to comment, but trade off of this post at your own peril.
Trade active:
Never made it to the lower trend line before putting in a powerful reversal signal Friday. Gave us a lovely hammer, and price advanced powerfully upwards from a W formation, not only on the hourly but also long term, going back to November 14th. Expect price to trend upwards in a C-Wave up above the A-Wave top at 1.019! Let's Get LONG Baby!