yesterday EURUSD has broken above 1.1 structure resistance. the next safest level to sell from is 1.18: it matches with a current autumn's high and it is a completion point of a projected ABCD pattern.
as always, wait for confirmation within the underlined zone before taking the trade!
Looks good, 1.12 is a very strong area! Also the 200SMA in the way now and Elliott waves suggest we are finishing wave v soon and due for correction. Could be a pullback earlier to retest 1.11 area before we break to the uptrend. So far based on FOMC yesterday, next year we'll be selling the USD. Powell said in the press conference that he will only consider raising rates once he sees a good spike in inflation. No hikes next year expected. 1 in 2021 and 1 in 2022.
VasilyTrader
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@AntonioFX777, thank you for sharing, Antonio!
as always, great thoughts!
pezza82
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I can see it hitting a long term downwards trend line which lines up with the mentioned resistance.
VasilyTrader
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@pezza82, hey Perry!
yes it is :)
it is a very important pivot point for the pair!
so we can expect at least a minor bearish reaction from it!
Looks good, 1.12 is a very strong area! Also the 200SMA in the way now and Elliott waves suggest we are finishing wave v soon and due for correction. Could be a pullback earlier to retest 1.11 area before we break to the uptrend. So far based on FOMC yesterday, next year we'll be selling the USD. Powell said in the press conference that he will only consider raising rates once he sees a good spike in inflation. No hikes next year expected. 1 in 2021 and 1 in 2022.