SteynTrade
Short

EURUSD Wyckoff looking for back up to creek

OANDA:EURUSD   Euro / U.S. Dollar
Using a Wyckoff view the EURUSD             has completed the jumped of the creek and we are now looking for a back up to the creek in phase D. A volume climax is seen and the uptrend stride has been broken. A low volume pullback to the creek is anticipated before the start of the mark up in phase . Distribution is seen on the daily time frame also confirming the pullback.
Comment:
On the daily time frame we see the distribution and break of the upward stride. This is part of the weekly back up to the creek.
Comment:
Still waiting for the pullback to the creek to complete.
In the daily you show that creek at 1.15 and last week it dropped to 1.15751...close
Reply
@Musallam, The creek is not precise it is an area where you can expect support. It may go lower but you could expect support in the area to step in. It may even go as low as 1.10.
Reply
Musallam SteynTrade
@SteynTrade, Is it completed?
Reply
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