brexit_as_a_username
Long

EURUSD probably a regular ABC not a triangle

FX:EURUSD   Euro / U.S. Dollar
Still waiting to finish fifth wave. And then we can begin looking for downside.
It broke out of its Weekly Bullish trend, and I spotted a Divergence on the weekly chart. The fundamental support the strengthening of the us currency and no fundamental indicators has been released to further support the bullish Eur trend. The US index broke out of range and could potentially see a trend break on the us index after retest its resent break out point.

I agree that its long, what I''m not sure about is the target area. I think the @1.220 to 1.223 area will hold as a strong resistance,as this area has been a strong support for the past 3 months.

whats your take on this?
+1 Reply
@lefaraleting, Thank you for comment. Fourth and fifth Waves, if analyzing using Elliot Wave Principle are causeing almost always Divergences on all indicators. Fundamentals – Personally my fundamental analysis makes only 3% and 97% is technical. I wouldn't worry so much about Weekly trendline thats why I also see one more push up and then probably longer downtrend.
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