Dear Colleagues, price is in an upward movement of wave 3 of higher order and I expect wave 3 of lower order to start now. All indications are that the upward movement is not over yet. I expect the price to test the support area at 1.08638 and then continue the upward movement at least to the resistance area at 1.09819.
Manage your capital correctly and competently! Only enter trades based on reliable patterns!
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Dear colleagues, wave 2 is coming to an end and I do not recommend considering short positions! I only consider long positions. The price may still update the minimum a little bit, be careful!
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Dear colleagues, as I expected - the price updated the low and went behind the support area. At the moment the price may again slightly update the minimum, because the buyers are increasing their positions! I suppose this means that the market gives us an opportunity to enter a long position more favorably! I consider only long positions.
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Yesterday's news had a positive impact on the forecast, well, I expect the scenario to be completed.
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Dear Colleagues, the news background has changed prices very much, but I still assume that price should reach the high of wave 1, and now price is updating wave 2. Nobody expected such strong fluctuations, but we did not get a loss because the order was transferred to breakeven.
Your analysis is noting the classic Elliott Wave structure, and it looks like you're anticipating that we're in the middle of an impulsive wave higher for EUR/USD. Your expectation for the price to test the support area before continuing the upward movement towards the resistance area is a solid plan based on this theory. It's always exciting to see Elliott Wave theory in action!
Hellena_Trade
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@FXCM, Thank you very much for your comment! that's exactly it, I analyze the markets every day with wave theory and it gives good results!)
mohemati
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price is about to test a very important medium term support zone, I couldn't agree more
first (2) wave is a corrective wace accually because wave 2 cant correct wave 1 more than 88.6%. thank you for your greaf idea🙏
ICmarkets
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Impressive technical analysis! Your insights into identifying a viable support zone for the EU is spot-on. Can't wait to observe how the price behaves by the conclusion of the New York market session.
squir
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Thanks for your analysis, it's good to be able to exchange ideas. I use Bollinger bands. From BB daily timeframe perspective, it looks like price is going down, next level of possible support around 1.075. Have a great day!