Topic : Analyze the possible path of the Euro price movement
the completion of a double diametric pattern is assumed.After that We are witnessing a downtrend movment .For now it is too early decide to take this double diametric pattern of an X-wave from a one-degree larger pattern.Because the double diametric pattern itself may also be an arm of a standard NeoWave pattern. Now let's talk more about the recent downtrend after completing the double Diametric Pattern.
Two scenarios can be considered for the pattern formed:
1. The downtrend has begun at 1.12393 is considered an Expansion Triangle and then we will have the X-wave or the beginning of any (:3=Symbol of correction) patterns. 2. The downtrend has begun at 1.12393 is considered a symmetrical and then we will have the X-wave or the beginning of a patterns (:3).
Note: There is possibility that the recent descending move will form a combination And price experience more decline or a side move. Important: If we have only one (X-wave) in each of the proposed scenarios then The next move will certainly be in line with the previous pattern (important). If the next move is not an (X-wave) We can hopefully start a standard or non-standard NeoWave pattern with any length It will have the capability pushing price higher. Note: After completing the downtrend in both scenarios we expect a relatively good move in the opposite direction, so the buy position is in focus.
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This upside can be considered the downtrend termination and the previous pattern termination. But the scenario seems to be moving on. However, we have not yet reached a definite pattern in aggregating the corrections on a daily chart from 1.1239.