In my earlier chart of EURUSD suggesting bullish action with 2 possibilities. First is for it to retrace the recent fall in the form of abc zigzag to 1.3150 -1.32 area before continuing down. Second, with possibility of new minor 5 waves that could lead it to retest the recent high a 1.33 area and or make new marginal low for signification top completing 5 waves from July low in larger degree. Here is the Comparison chart of EURUSD and Dollar Index which I published back in November, buy with updating notes & EW counts. This seems to support the view that we could see retest of the recent high. On completion, we could expect much deeper retracement of the entire move from July high in the form of 38.2% or 50% Fib for example. Check out my earlier chart for additional details.
Comments
DanV
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Overall objective on this chart was reached and will now post a new updated chart. All those who view this charts and found it helpful, please select to follow me if you are not already a follower for notification of any new post
DanV
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Whilst the above chart still holds, I have updated my current view on Dollar Index and by inference on EURUSD in the a separate chart link - tradingview.com/v/c08dC1LT/
DanV
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So far we are moving in the right direction and could see 1.35 could be tested this week upon break above the recent potential side way congestion or on next attempt after little pull back. Further to continue with the Bullish view on EUR, other Intermarket Analysis confirming the longer term view are helpful and you would benefit by checking these charts. Here are the links for Dollar Index chart for comparing the longer term view. tradingview.com/v/SZDm2FmO/ and Dow Ind & Dow transport comparison chart tradingview.com/v/NhLkVXOL/
nourmq
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nice, continue
DanV
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Hi, thanks for taking the time to view my chart & commenting.