As you can see based on daily cycles, an EU retrace is incoming.
We have a double cycle ending at the 161.8 FIBO EXTENSION level, paired with a triple cycle. Both cycles ending in a divergence.
To drop shorter TF to 4HR, we have a bearish triangle forming, indicating the pressure of a drop inbound.
I Predict that a EURUSD short is incoming, and may be a very significant one.
The other side? Well, I suppose with today's political climate anything is possible, but the charts never lie!
We have a double cycle ending at the 161.8 FIBO EXTENSION level, paired with a triple cycle. Both cycles ending in a divergence.
To drop shorter TF to 4HR, we have a bearish triangle forming, indicating the pressure of a drop inbound.
I Predict that a EURUSD short is incoming, and may be a very significant one.
The other side? Well, I suppose with today's political climate anything is possible, but the charts never lie!
Comment:
I will not be buying nor selling until the chart reveals its ways and adjusts to its rapid movements
Order cancelled:
AS STATED on my 4hour chart: the triangle convergence break NEVER happened and most divergences continued until failure. BECAUSE of no entry, I took no trade on EURUSD. these cycles are part of a bigger cycle now. I will cancel this idea and wait. No harm (no entry), no lost money. At the end of the day, we avoided losing money, which I will take any day over making money.
-Until next EURUSD
-Until next EURUSD
HOWEVER, I am not bullish on this pair to be clear.