NBent
Long

Impulsive Corrective Series Hints at potential upside

FX:EURUSD   Euro Fx/U.S. Dollar
EURUSD             has formed a series of impulsive and corrective moves that shows us exactly how much power the bulls currently possess. To clarify, impulsive moves tend to be "strong and fast" while corrective moves tend to be "weak and slow". This directly correlations to the strength of each party's hand. The bulls are in control right now. The push from the bulls are powerful while the pullbacks from the bears only exhibit weakness.

Earlier this week we began a corrective move downwards that looks to be drifting toward the established support at 1.106 - 1.108. This is the same level where the first corrective move met heavy buying interest. This level has proven to be reliable in the past and provides an excellent opportunity to get long for the next impulsive leg.

P.S. Beware of spikes in volatility around NFP this upcoming week.

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Happy Trading,
Nazar.
hollyman
8 months ago
thanks Nazar for detailed analysis .... BIG like
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NBent hollyman
8 months ago
Thank you :) I appreciate the support.
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vava
8 months ago
Like like like!!!!
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NBent vava
8 months ago
:)
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vava
8 months ago
!!!!!
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