EURUSD Weekly OutLook

FX:EURUSD   Euro / U.S. Dollar
EU is ranging between 3 s/d zones. At this moment we are at a crucial point where we can break out or move with the current trend. If we hold we could see a potential move up to 1.1600 for a Bat Pattern completion. If we break the current up trend, we could see a potential down move to 1.04 zone where the Wolfe Wave will activate a massive potential swing up to 1.2200 as we will double bottom on the bigger scale, which will lead us to a old supply zone again.

I'm a better with drawing than explaining.
If you not familiar with Wolfe Wave Pattern, look up Linda Bradford Raschke. She is awesome!!

I personally do not trade of the weekly, however. I do use them to get a idea of the bigger picture and where markets might lead to. To simplify that. I use it as indicator :)

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