TimStuyts
Long

Update EURUSD trade plan

FX:EURUSD   Euro Fx/U.S. Dollar
438 1 5
For my previous post and context see below:

EURUSD what fundamentals win? or technicals...


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.

www.timstuyts.com

facebook/timstuyts/
TimStuyts
10 months ago
snapshot


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.
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out