EUR/USD Pattern Galore
As the price channel is narrowing on the EUR/USD pair so too
are the harmonic patterns. All of the depicted patterns are
still valid, so even at this stage it's a 50/50 chance as to which
direction price will go.
I do believe that price will continue to go lower if you take a
look at the EUR/USD analysis I made on the monthly time
frame.
For now, I personally would only scalp this pair as it's
indecision mixed with volatility is a real account wiper.
But if you do wish to engage in trading this pair, feel free
to use targets from any one of the harmonic patterns.
Also, keep an eye on the indicated invalidated levels of
each pattern.
The crucial level nonetheless is the 1.23425, which is the
confluence resistance level of the wedge; also it bisects
the B leg's of most patterns, thus, a weekly close above or
below this level may be indicative of near term price
direction.
I am not including any entry, stop/loss or targets again due
to the indecisive and volatile nature at the moment.
Happy trading
As the price channel is narrowing on the EUR/USD pair so too
are the harmonic patterns. All of the depicted patterns are
still valid, so even at this stage it's a 50/50 chance as to which
direction price will go.
I do believe that price will continue to go lower if you take a
look at the EUR/USD analysis I made on the monthly time
frame.
For now, I personally would only scalp this pair as it's
indecision mixed with volatility is a real account wiper.
But if you do wish to engage in trading this pair, feel free
to use targets from any one of the harmonic patterns.
Also, keep an eye on the indicated invalidated levels of
each pattern.
The crucial level nonetheless is the 1.23425, which is the
confluence resistance level of the wedge; also it bisects
the B leg's of most patterns, thus, a weekly close above or
below this level may be indicative of near term price
direction.
I am not including any entry, stop/loss or targets again due
to the indecisive and volatile nature at the moment.
Happy trading