EUR/USD 4 HR CHART
From PA all of this month/May until current PA, appears to going thru a 1-5 Elliot impulse waves lower. #4 to #5 impulse or last run down is going on now & has bearish room to go before it finds a support level. Support area in my opinion is <orange area> on chart, which is fairly large related to PA. The downtrend has been following a 45 degree angle, which is within a normal drop down (not too SLOW or FAST) at this time. Major Trend down (green line) still has no been broken by price action, but will happen sometime first part of next month/June.
Major support area is noted on bottom for this 4 hour chart. All EMA's are over PA at this time, so all looks bearish.
Have fun trading either as a hobby, part time or full time--- remember this is NOT work if you love doing it. Lets Trade!!
From PA all of this month/May until current PA, appears to going thru a 1-5 Elliot impulse waves lower. #4 to #5 impulse or last run down is going on now & has bearish room to go before it finds a support level. Support area in my opinion is <orange area> on chart, which is fairly large related to PA. The downtrend has been following a 45 degree angle, which is within a normal drop down (not too SLOW or FAST) at this time. Major Trend down (green line) still has no been broken by price action, but will happen sometime first part of next month/June.
Major support area is noted on bottom for this 4 hour chart. All EMA's are over PA at this time, so all looks bearish.
Have fun trading either as a hobby, part time or full time--- remember this is NOT work if you love doing it. Lets Trade!!