Hi Traders,
The EURUSD broke a key support level with a text-book five-wave impulse in "i" with an extended wave (5).
.
A three-wave corrective chart pattern is expected after an impulse move, and the current retracement seems to be unfolding as a zigzag pattern which is most likely to terminate at the swing level that lined up with 38.2-50.0 Fib ratio and moving averages.
.
We will wait for the price to reach our confluence level and complete the corrective wave then look for the breakout of the Counter Trend Line to confirm the sell entry.
.
Thanks for reading!
Veejahbee.
The EURUSD broke a key support level with a text-book five-wave impulse in "i" with an extended wave (5).
.
A three-wave corrective chart pattern is expected after an impulse move, and the current retracement seems to be unfolding as a zigzag pattern which is most likely to terminate at the swing level that lined up with 38.2-50.0 Fib ratio and moving averages.
.
We will wait for the price to reach our confluence level and complete the corrective wave then look for the breakout of the Counter Trend Line to confirm the sell entry.
.
Thanks for reading!
Veejahbee.