As EURUSD bounced out of the daily demand zone, the week demand zone moved above the top.
However, in order to propagate as a weekly rising wave, a correction pattern that breaks the daily correction trend line will have to emerge.
Since now can be the best correction pattern, if it is difficult to keep updating the high every day, it will definitely come down to the weekly demand zone.
Therefore, please look for new buying opportunities in the weekly demand zone.
1. If the rebound fails in the weekly demand zone, the monthly correction process will end and a downward wave will come out to test the bottom.
2. If the rebound in the weekly demand zone is successful, it will end with a rise by the end of the year.
However, in order to propagate as a weekly rising wave, a correction pattern that breaks the daily correction trend line will have to emerge.
Since now can be the best correction pattern, if it is difficult to keep updating the high every day, it will definitely come down to the weekly demand zone.
Therefore, please look for new buying opportunities in the weekly demand zone.
1. If the rebound fails in the weekly demand zone, the monthly correction process will end and a downward wave will come out to test the bottom.
2. If the rebound in the weekly demand zone is successful, it will end with a rise by the end of the year.
Trade active:
It seems to come down to the weekly demand zone next week.
EURUSD has room to rebound in 2 positions.
1. In case of ascending while creating a new daily demand zone around 1.029~1.03 without breaking the daily demand zone. In this case, the daily rising wave continues, but if the rising does not continue, there is a high possibility of a big drop someday.
2. It rebounds around 1.029-1.03, but if it falls back to the weekly demand zone and creates a support line, it will spread as a weekly uptrend, so December can continue to rise. After this uptrend, the monthly correction will be carried out again, so there will be a big downtrend again.
EURUSD has room to rebound in 2 positions.
1. In case of ascending while creating a new daily demand zone around 1.029~1.03 without breaking the daily demand zone. In this case, the daily rising wave continues, but if the rising does not continue, there is a high possibility of a big drop someday.
2. It rebounds around 1.029-1.03, but if it falls back to the weekly demand zone and creates a support line, it will spread as a weekly uptrend, so December can continue to rise. After this uptrend, the monthly correction will be carried out again, so there will be a big downtrend again.