Bear Wolfe in the making EURUSD 4h

FX:EURUSD   Euro Fx/U.S. Dollar
Will try to put my thinking in public from now on..

At the moment i'm looking at EURUSD             . Fundiewise nobody knows what will happen, and even depending on what will happen nobody knows how it will affect price, so sticking to TA makes is much more simple.

Everyone seems to be seeing bull and looking for 1.2000, but looking at monthly does not show a strong bull but more a consolidation, so i would prefer to look for short setups.

For the week ahead i see a wolfe wave pattern setup. It can go both ways... it can become bullish if we start count from point (2) but with a very short target count in pips (aprx. 50 pips) so in my view nothing to get excited about. BUT the shorting version, as per chart, is more fun and can bring min. some 450 pips on a confirmed break.

If we trade just the wedge formation we have a 330 pip target lower.
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