FX:EURUSD   Euro / U.S. Dollar
317 6 8
eu is at an important level. breakout must be happening, up or down.

i suggest the break to the downside because of the corrective pattern in which it is now. Rather fast move down is likely to be a new motive wave down to 1.07 - 1.05.

Watch the corrective wave for yourself. Wave counting is not brilliant, actually not a 5 wave diagonal, but an 3-3-5 abc move. Thats also a reason for more shorts.

on the other hand: .618 fib retrace of the last upmove (corrective upwave).

It might be a complex corrective pattern, which would be the 'X' now in the structure. I dont believe thats that going to happen, since it will have to break 618 for that, which will react as resistance later.

I hope its clear for u.

question? pm.

Comment: watch the price ation now. broke up earlier, now retesting trendline. possible entry
Comment: very weak support apparently. lets go more down upcoming weeks.
can u pls suggest me how to open a profitable position for 100 to 200 pips any videos or anything else.........
richard363 Harishsharma
i dont have a short answer to that. depends on so many things.
and since we agree on uj down (we both shorted uj), you may take a look at ej...
richard363 ShauntheSheep
have no interesting chart on ej. Have looked at it, but no good fib levels, and no good structure. maybe a little up, but on higher tf it is still going lower.
I think dollar will fall, so au eu up uj down ...
richard363 ShauntheSheep
yes very possible! it can break both ways. structure suggests however break down. Thats all i see, but i agree about the dollar.
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