Hello Traders,
one more chart, here the EUR/USD! A Forex pair I seldom follow, but this week something interesting occurs at chart!
Note the lower graph in the chart above. This is the FXE, the ETF that illustrated this pair.
A „bullish-Engulfing“ developed at this week's trading ended. This is a bullish sign for the pair and is valid as long the low of the candle is valid. This level is at 105,12.
Again. A pattern like this indicates 3-5 weeks of advancing prices for this pair so, maybe to end of January or mid-February!
On the daily chart, the upper graph, you will observe, that the decline for the EUR/USD ended this week at a 0.786 Fibonacci of the advance from the possible wave (ii) low @ 1.10662. Price spiked below the Fibonacci level but closed above this area. This is important, to my view, and could make a new advance within a wave „3“ possible. A target range for this idea is well above the 1.12394, the high from December 31, 2019!
Have a great weekend...
ruebennase
Feel free to ask or comment.
Trading this analysis is at your own risk!
one more chart, here the EUR/USD! A Forex pair I seldom follow, but this week something interesting occurs at chart!
Note the lower graph in the chart above. This is the FXE, the ETF that illustrated this pair.
A „bullish-Engulfing“ developed at this week's trading ended. This is a bullish sign for the pair and is valid as long the low of the candle is valid. This level is at 105,12.
Again. A pattern like this indicates 3-5 weeks of advancing prices for this pair so, maybe to end of January or mid-February!
On the daily chart, the upper graph, you will observe, that the decline for the EUR/USD ended this week at a 0.786 Fibonacci of the advance from the possible wave (ii) low @ 1.10662. Price spiked below the Fibonacci level but closed above this area. This is important, to my view, and could make a new advance within a wave „3“ possible. A target range for this idea is well above the 1.12394, the high from December 31, 2019!
Have a great weekend...
ruebennase
Feel free to ask or comment.
Trading this analysis is at your own risk!