EURUSD - 2 areas of interest- Short
1HR has the smaller Crab pattern in progress off the 800 EMA (maybe this plays out now)
4HR larger spanned on structure Deep Crab pattern would complete at 618 retrace of Larger swing
Current pattern is in confluence with EMA and 50 retrace Level.
Currently no Divergence but in overbought state, but maybe we see this shortly as we retest pattern high.
1HR has the smaller Crab pattern in progress off the 800 EMA (maybe this plays out now)
4HR larger spanned on structure Deep Crab pattern would complete at 618 retrace of Larger swing
Current pattern is in confluence with EMA and 50 retrace Level.
Currently no Divergence but in overbought state, but maybe we see this shortly as we retest pattern high.
Comment:
Looking towards second target
Comment:
No Divergence no trade so far, keep it simple
Comment:
Strong rejection at the 618 of swing.
Second pattern holds more value.
Second pattern holds more value.