Update EURUSD trade plan

FX:EURUSD   Euro / U.S. Dollar
440 1 5
For my previous post and context see below:

In the beginning of next week I'll be looking for a break out for the EURUSD             . By means of the Green and Red arrows I tried to show my ideal scenario where we will see a test of the previous high on the 4 chart first after the anticipated break. Don't forget this high is a significant level that came in place after the high volume around the ECB press conference last month.

Therefore I like to see a consolidation/correction from that level. Once that consolidation/correction is over I will be looking to buy again for the next leg higher towards the Fibonacci confluence zone around psychological level 13.



EURUSD tested 61.8 Fibonacci support. I'm still looking for a bullish break-out. We might see another leg lower first so we are able to spot a clear 3 wave correction lower. Nevertheless the structure by means of the 'channel/Bull flag' pattern looks very corrective to me and that's why I'm only interested in a buy opportunity.
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
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