EURUSD top established at 1.1615 for down move to 1.0750

FX:EURUSD   Euro / U.S. Dollar
142 0 4
I have always viewed that EURUSD             is trading a big triangular range between 1.0500-1.1700, which consists of waves(A)(B)(C)(D)(E). This view is still valid. In my previous post a couple of weeks ago, I had prematurely labelled the high at 1.1465 as wave(C) and turned bearish when it started to weaken. I was wrong. As it turned out, it did another up move to 1.1615.

On the day it hit 1.1615, it closed weak and created a bearish Dark Cloud Cover candlestick pattern. That enhances the view that it has completed the wave(C) rally. From here, it is on the wave(D) down wave which is expected to last 3-4 months. Target for wave(D) is around 1.0750.

We also note that the Dollar Index             might have finished its downward correction when it hit a low od 91.88 this week and rebounded to 93.30 currently. I expect further upside momentum towards 94.00 soon. Above 95.50 signals a strong USD rally against the majors. Keep a watchful eye on the Dollar Index             as EURUSD             is a major component.
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out