MohamedMagdy

Bearish correction maybe coming before going bull

FX:EURUSD   Euro Fx/U.S. Dollar
149 7 3
9 months ago
Price action is rising with lower volumes !!
I Think there might be a breakout of the violet channel to the downside , and that breakout may lead the pair to fall below the red resistance line of the previous bearish channel !!
The breakout of the red resistance line of the previous bearish channel should be with high volume and spread in the up direction , however the volume shows lower volumes interaction with that major resistance line which may cause that breakout to be just a false one !!!
There is an ABCD Pattern formed shown with yellowish lines
The pair is in a critical levels and there is a strong move coming and it is more expected to be in the up direction as long as price action is above the green line which is a major support trend line .
9 months ago
Comment: Major reversal in US Dollar index in the down direction , which may indicate a long-term weakness of US dollar over other major currencies and a long term bullish move of EURO ,
There must be a a bearish test before the new bullish trend is confirmed and continued !
CristopherCerrato
9 months ago
Are you sure that's an abcd pattern?
Reply
MohamedMagdy CristopherCerrato
9 months ago
Alternative AB=CD WHICH
AB=1.27CD
OR
AB=1.618CD
Reply
MohamedMagdy CristopherCerrato
9 months ago
http://neoharmonics.com/wp-content/uploads/2012/06/patternABCDAlt.png
Reply
MohamedMagdy CristopherCerrato
9 months ago
Bearish Reciprocal ABCD ADVANCE HARMONIC PATTERN
https://pseharmonics.files.wordpress.com/2011/07/bearish-reciprocal-abcd.jpg
Reply
stream
9 months ago
maybe not .. lol
Reply
MohamedMagdy
9 months ago
US DOLLAR INDEX WEEKLY CHART
Reply
MohamedMagdy MohamedMagdy
9 months ago
snapshot
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
France
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out