PREVIEW: EURUSD: Possible Scenarios For Next Week

Here's how I am seeing the EUR possibly moving next week. I will be doing a complete analysis over the weekend on this pair from a clean slate and try to determine the direction. For now, this is just a preview of what I am looking at and what you can look at yourself.

In the 4HR chart above, I'm showing a couple of possible directions that I think the near term movement may go. Prices have so far moved back into the contracting triangle that I had labeled a month ago and have stayed in there this week. The NFP did nothing to change that. Is it possible that prices could still trace out the triangle? Yes. It is. But for now, the upper and lower trend lines of this triangle are back in play and will have a say in what happens next.

DAILY CHART - Adjusted Wave Count + Twp POTENTIAL Bearish Bats
I had posted these 2 POTENTIAL Bearish Bats more than a month ago. They are still in play and will come more into focus later as prices start moving up.

After a another uneventful NFP, no clear direction short-term has appeared. I am still OVERALL BULLISH but I do believe there will be some bearish short-term move before a major turn to bullish.

As of now, I am not in any positions on this pair.