DanV
Long

EURUSD - INTERMIDIATE TERM POTENTIAL LONG ENTRY

FX:EURUSD   Euro / U.S. Dollar
Could be very volatile day in view of the schedule event. We might spike low or end the day lower. However it is worth looking for intermediate term long entry either today or early next week.

Technical Summary:
1. It seems that since march low the entire rise has been a WXY zigzag with recent high on 24th August been confirmed by RSI momentum high.
2.The decline though strong still lack clear 5 wave impulse counts. Hence I am treating this as corrective.
3. We have effective Pitchfork (schiff) which has caught the upside well and could now offer potential support at the lower parallel.
4. We have polarity zone lining up with whole number (minor) and several rib retracement and projections.

Conclusion:
Looking for long in the 1.1 -1.09 region.
Failure would below 1.08

Warning: This is my interpretation of price action using TA approach that I consider helps me most but could be completely wrong. Therefore as always, do your own analysis for your trade requirement and ignore my views.

For those who appreciates my analysis, select to follow me and the chart for notification of future updates. Indicate you like my analysis by thumbs up, comments and sharing it with others. If you have an alternative idea then please be constructive and share for all to learn from.

Thank you for taking the time to read my analysis.

DanV
danv-charting.com
http://www.danv-charting.com
https://www.youtube.com/channel/UChJVIJir7nymD9J3ZWoal-w/feed
https://www.tradingview.com/chat/#E4bnOJSWcO1zDjBG
Updated chart published with details of long trade.
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Thank you for your chart, long time no see. I hope you are doing good.
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Hi, yes thanks. Just been busy with few things, so haven't been that active in the chat.
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It would be good to see you more active on chat, when you have more time. I wish someone has told me that trading Forex can be very addictive, even when I have bad days I still come back for more.
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UPTDATE: Still anticipating price action to work its way to long entry zone. in the meantime possible short trade might be available as detailed in the chart just published
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thanks for the chart, Dhanji. Hope all is well. patricia
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You are welcome. All is well thanks.
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snapshot
short term view
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mkdeep04 mkdeep04
snapshot
daigonal wedge n rsi
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DanV MOD mkdeep04
Thanks for your charts. Short term it is possible, though not sure if what you describe is really a diagonal wedge in EW terms. But I get what you mean.
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