EURUSD a bullish pause before finishing the downtrend.

OANDA:EURUSD   Euro / U.S. Dollar
After touching the high of 1.2539, eurusd started a retracement phase.
The downtrend analyzed here is the C major.
Where it will end we can not say with certainty but some elements taken into consideration make us suppose that the price, in the short term, will have a small rise before continuing its descent. Let's see what.

1) Fibonacci captures to perfection (or almost) all the main levels of supports and resistances.
see in particular the irregular flat between 1 and 2 and the lateral movement in which we are now (wave number 4)

2) the double bottom marked in the last sessions could be a prelude to a momentary break of the downtrend

3) the possible target of the double bottom is located near the bottom of the wave 1, a limit that can not be crossed by the total retracement

4) same thing for the minor c, the one in which the price is currently found. it is a wave formed by 5 subwaves. Tracing a Fibonacci projection from zero to 100 would not exceed the bottom of the major 1 wave.
Trade closed: target reached
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out