EWChartist
Long

Eur/Usd Major uptrend

FX:EURUSD   Euro Fx/U.S. Dollar
260 7 9
We see this as the start of a major uptrend
donaldsaw
8 months ago
I also use EW for my count but I don't think the end of wave 5 where you have it unless it is a 5th wave failure. My count is that where you have end of wave 3 is a start of a triangle with the A, B, C complete and a wave c of D is just about to happen.

Additionally, I sub triangle formed at wave b of C so a flat wave 4 correction isn't possible and this is confirmed by wave C not making a new high. Next week will be interesting as I have USD to fall to around the 1.0700 mark.

Let me know your thoughts on my alternate count. Thanks

snapshot
Reply
EWChartist donaldsaw
8 months ago
The reason why we see it this way is because Major wave 3 was an extended wave so there could be a possibility that Major wave 1 would be approximately equal to wave 5. Again if you use Fibonacci ratios you would see this correction was a deep correction and that was our Wave 4. It is possible to have two waves being extended but this would be quite rare. We see such rare formation when we are trading stocks... It is also nice to note that all corrections end with a 5 wave count then the trend continues. On your Cchart the 5 wave count would end at your Major wave B
Reply
EWChartist EWChartist
8 months ago
snapshot
Reply
S.Ateeq EWChartist
7 months ago
If you allow me, I like to share my opinion here, I believe EURUSD still has more room down which is based on alternative count, as well as, fundamentally EUR is expected to be under strong pressure this year.
Reply
EWChartist S.Ateeq
7 months ago
Yeah we totally agree wit you. Will do a wave count over the weekend when the markets are closed to confirm that
Reply
S.Ateeq EWChartist
7 months ago
Thnx, I am already short on ERUGBP, EURUSD, Awaiting AUDUSD to reach 0.78 levels, again good job.
Reply
arif_awan
8 months ago
EurUsd Breakout coming soon.
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out