Good Morning Traders! From the technical point of view, the pair is working (Wave 4) not yet completed. We expect that the next move will be bearish, completing "Wave 5". RULES OF ENGAGEMENT: never anticipate the market.
If you think this analysis can be useful, leave a your comment or your ILIKE! Thank you for support and trade with care!
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In the next update, we will post the potential failure level of this technical rebound (Wave 4)... follow us!
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...wave 4 in play....
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No change from the technical point of view, the pair is working wave 4 (bullish) and this movement could properly develop our harmonic structure. This week is expected the data about employment and this event will be the leading driver this week. Technically speaking, after completing wave 4, we expect the last bearish movement, completing the impulse structure (12345).
If you think this analysis can be useful, leave a your comment or your ILIKE! Thank you for support and trade with care!
Hi,
Am i right to say that even though wave 4 is not completed, prices can still go on to complete 5? Or wave 4 must be completed first before wave 5 comes?
Thank you :)
TheAnonymousBanker
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@Camtoh, Hi Camthon, you're right! "...wave 4 must be completed first before wave 5 comes"
Camtoh
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@SignalSwiss, Is it feasible to long now? Or follow your blue arrow to long at around .7820?
Thank you for your reply.
malagasy
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@Camtoh, signal can answer that best but usually, it's better to stay away from corrective waves
Camtoh
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@malagasy, Thank you Malagasy. Just good to know if it the blue arrow being positioned in that manner has got meaning or it is just place there to indicate direction.
SkyrEk
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@Camtoh, It will be good to long only after a retracement rather than buying at current high prices. This will give you better risk/ rewards as well.
Camtoh
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@SkyrEk, Ok. Maybe the blue arrow indeed indicates possible retracement before wave 5 takes place.
TheAnonymousBanker
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It could be help you.... I hope! :)
Camtoh
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@SignalSwiss, Thank you :)
TheAnonymousBanker
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@Camtoh,you're welcome! .... It takes some time to understand everything, the real secret is to do a lot of workout ... :)
Am i right to say that even though wave 4 is not completed, prices can still go on to complete 5? Or wave 4 must be completed first before wave 5 comes?
Thank you :)