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Inacio_1998
Jun 7, 2021 1:04 PM

EURUSD Overview week commencing on 7th June 2021  Long

Euro Fx/U.S. DollarFXCM

Description

Weekly Closure - Bearish Doji once again showing the indecision as it approaches previous level of weekly rejection (resistance).

Daily Chart - previous Daily closure showing some bullish momentum , (still maintaining a bullish trend).

H4 Chart - very extensive 1st wave could see a retracement towards the previous level of resistance, which would match the 50% fib level.

30m Chart- We had a break of support and as I am potentially expecting a potential retracement on the higher timeframes which would make a bearish trend on a lower timeframe such as the 30m chart, current expectation would be a full Elliott Wave on the 30m ( which would mean that we would be currently on wave 4 ) to go lower (around the previous H4 resistance) and potential resume the bullish trend.
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