CADEUR, Double-Top-Formation, Completion Below Neckline!

Hello,

Welcome to this analysis about CADEUR, we are looking at the 4-hour timeframe perspectives. As I discovered recently CADEUR has completed a very important formation which can be the determining factor in the upcoming times especially when CADEUR continues as expected. As when looking at my chart now we can watch there how CADEUR has formed these two tops referring to a double-top and recently formed the breakout below the neckline marked in red which is also a strong resistance now because it was support before. In this structure CADEUR has emerged with this initial impulse to the downside forming the wave A in the structure and now CADEUR with the bounce into the neckline and the resistance lying there is developing the wave C in the wave-count. There is a highly likely possibility given that CADEUR will pullback in this resistance and therefore form the origin of the further impulse wave C to the downside, this wave then will have its targets within the 0.6674 level marked in my chart in blue. Currently CADEUR is still finding the trend therefore when it finally breaks out below the 0.673 level it will fully confirm the bearish impulse to the downside and approach the targets from where the situation needs to be elevated anew.

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Comment:

ANALYSIS UPDATE: CADEUR continued with the bearish pullbacks below the crucial structure resistance to form the next wave C within the bearish wave count.

CADEUR since it bearishly pulled off the structure resistance accelerated the bearish trend dynamics to reach the final target zones within the schedule.