EUR/USD: Weekly overview! Timelines and technical details!#Sell
Hey tradomaniacs,
welcome to a weekly overview of Euro / US Dollar.
It`s been very boring during the past weeks and the market had to choose a path
fighting inside a range of the wedge.
Neither EURO or USD had the final say yet but it looks like the EURO is going to loose this fight since
we`ve seen another attempt to break out of the range and stopped at the previous support which could be an
evidence of an S&R-Flip.
The previous two weeks do look like a desperate "try hard" of the bulls to push the euro towards north but did not even make
it to the strong tested resistance at 1.14525.
The defense of team bulls at yard 1.13 was very strong but at the end not good enough to prevent team bears to
shot the next goal.
The big picture shows an S/H/S-Pattern which should be a strong evidence for another sell-off after this breakout
towards parity down to a possible price of 1.06.
Timelines:
The timelines are pretty accurate and harmonic and do indicate time for a downtrend.
Comparing the divergences of them do show us a common happening.
During a trend we`ve seen at least 2 waves with a "settlement" with Wave A which indicates the time of the primary trend.
The right shoulder shows a settlement of Wave B, Alpha and Beta and indicates a correction of Wave A.
Amplitude and lenght are pretty accurate.
After that correction we`ve see a harmonic agreement of Wave A, B and alpha.
The next attempt to correct indicated by the Alpha-Wave did not get its support of Wave B anymore and wasn`t able to break out of the wedge.
This divergence often confirms the weakness of the opposite direction of the Wave A + Wave B combination.
Right now we will head into an another "agreement" of all waves.
Overall we see a very bearish chart and can expect a new sell-off to start soon in ordewr to complete the S/H/S-Pattern.
--------------------------------------------------------------------------
LEAVE A LIKE AND A COMMENT - I appreciate every support! =)
Peace and good trades
Irasor
Wanna see more? Don`t forget to follow me.
Any questions? PM me. :-)
welcome to a weekly overview of Euro / US Dollar.
It`s been very boring during the past weeks and the market had to choose a path
fighting inside a range of the wedge.
Neither EURO or USD had the final say yet but it looks like the EURO is going to loose this fight since
we`ve seen another attempt to break out of the range and stopped at the previous support which could be an
evidence of an S&R-Flip.
The previous two weeks do look like a desperate "try hard" of the bulls to push the euro towards north but did not even make
it to the strong tested resistance at 1.14525.
The defense of team bulls at yard 1.13 was very strong but at the end not good enough to prevent team bears to
shot the next goal.
The big picture shows an S/H/S-Pattern which should be a strong evidence for another sell-off after this breakout
towards parity down to a possible price of 1.06.
Timelines:
The timelines are pretty accurate and harmonic and do indicate time for a downtrend.
Comparing the divergences of them do show us a common happening.
During a trend we`ve seen at least 2 waves with a "settlement" with Wave A which indicates the time of the primary trend.
The right shoulder shows a settlement of Wave B, Alpha and Beta and indicates a correction of Wave A.
Amplitude and lenght are pretty accurate.
After that correction we`ve see a harmonic agreement of Wave A, B and alpha.
The next attempt to correct indicated by the Alpha-Wave did not get its support of Wave B anymore and wasn`t able to break out of the wedge.
This divergence often confirms the weakness of the opposite direction of the Wave A + Wave B combination.
Right now we will head into an another "agreement" of all waves.
Overall we see a very bearish chart and can expect a new sell-off to start soon in ordewr to complete the S/H/S-Pattern.
--------------------------------------------------------------------------
LEAVE A LIKE AND A COMMENT - I appreciate every support! =)
Peace and good trades
Irasor
Wanna see more? Don`t forget to follow me.
Any questions? PM me. :-)
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