Hello.
Time Wave analysis update for EURUSD.
EURUSD expected the last pattern of the downtrend, the diagonal pattern, but the power of the downtrend is strong, and now the daily downtrend continues.
Now that the market is in the daily supply zone, it could move towards the bottom if it breaks hard and fails to gain support again from above.
However, since the floor is a monthly demand zone, it can be proceeded with a weekly correction process. That would break the last daily correction trend line of the downtrend. If this pattern continues, it will be a bullish impulse, where if it does not rise any further, it will change to a weekly correction pattern, allowing the market to test the bottom again.
For EURUSD to turn upward, the weekly and monthly correction trend line of the downward wave must be broken. Looks like we still need time. However, if the bottom is no longer updated here, the correction process will end within a narrow range, and an upward wave will eventually appear.
good luck.
Time Wave analysis update for EURUSD.
EURUSD expected the last pattern of the downtrend, the diagonal pattern, but the power of the downtrend is strong, and now the daily downtrend continues.
Now that the market is in the daily supply zone, it could move towards the bottom if it breaks hard and fails to gain support again from above.
However, since the floor is a monthly demand zone, it can be proceeded with a weekly correction process. That would break the last daily correction trend line of the downtrend. If this pattern continues, it will be a bullish impulse, where if it does not rise any further, it will change to a weekly correction pattern, allowing the market to test the bottom again.
For EURUSD to turn upward, the weekly and monthly correction trend line of the downward wave must be broken. Looks like we still need time. However, if the bottom is no longer updated here, the correction process will end within a narrow range, and an upward wave will eventually appear.
good luck.