EURUSD weekly TA

FX:EURUSD   Euro / U.S. Dollar
249 5 5
Here we go with the weekly analysis of this giant. I use monthly analyses only to guide me in my weekly analyses, so I constructed the pitchfork accordingly (you may see the monthly analysis as a linked idea below). The consolidation takes place in the range of 1-1.236 extensions of the A-B swing, shown in chart. The price is seemingly continuing its latest bullish action, and we should expect a retest of the old highs within the consolidation. It is also possible that we see LMLH act as a symmetry axis for the price. The dominant weekly trend is bearish , meaning that the rejection by the old highs is most likely to yield new lows.

I did not give place to minor pitchforks to prevent overcrowd, but if you draw a traditional Andrew's pitchfork using the P0, P1 and P2 pivots as shown in the chart, you will see that the area shown by the red ellipse is a strong confluence zone. It means that if the price visits there, any confirmed action will be significant beyond their own range.
Interesting view!
What you think about that?https://www.
Csys stream
Hi! Yours was the first comment I get in TV. Thanks! But the link you gave doesn't seem to work.
Sorry about that .. here is the link
Csys stream
Yes, I am thinking of the same direction. I will elaborate on the daily view more when the time comes.
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