Development from the earlier EURUSD analysis I posted at the the beginning of this week has provided us with a beautiful
corrective move to the downside to create a possible 2nd wave. The ABC pattern created by wave two in this case is an expanded
flat. I will be looking for entry confirmation on the lower timeframes. The confluence bubble is made up of a 50% fibonacci retracement
level, a 161.8% fibonacci extension level of wave (a) and a support zone. A lovely number of fulfilled conditions for a change in momentum.
Let me know what your thoughts are on EU down below in the comments, I would highly appreciate it.
Targets:
- 1.23200
- 1.23600
corrective move to the downside to create a possible 2nd wave. The ABC pattern created by wave two in this case is an expanded
flat. I will be looking for entry confirmation on the lower timeframes. The confluence bubble is made up of a 50% fibonacci retracement
level, a 161.8% fibonacci extension level of wave (a) and a support zone. A lovely number of fulfilled conditions for a change in momentum.
Let me know what your thoughts are on EU down below in the comments, I would highly appreciate it.
Targets:
- 1.23200
- 1.23600
Trade active:
Moving beautifully