aibek

EURUSD. Long then short. ABCDE Contracting triangle

Long
FX:EURUSD   Euro / U.S. Dollar
It is quite possible that we are in a last wave E up (green arrow)
before the collapse of the pair to the parity area between the 1.03 and 1.00 (red arrow).
I put the 78.6 Fib to flag the possible reversal point.
I put thin dashed red vertical lines to isolate each wave inside of a triangle to facilitate the understanding of the setup.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.