minimax
Long

EURUSD: 5 - 0 Pattern?

FX:EURUSD   Euro Fx/U.S. Dollar
69 1 2
Nice.. now I think bottom might be in place, or PRZ at least, as C of 5 - 0 Harmonic ...
MaryJane
a year ago
Thx for sharing..here is my view: The Draghi-hammer! Former analysis is abundantly valid!
The Draghi-hammer! Former analysis is abundantly valid!

There is nothing more to add! The Pair is bearish furthermore!

former Analysis:
Longterm View: LongTerm Swing-Dynamic vs. MidTerm Bearish Flag
When we have a look at the longterm Chart we see a clear and very wide downchannel. At the beginning of 2015 we have kissed the downtrend channels bottom @ 1,04. From that Level on we started a Rebound nearly till the Minimum correction fibo (38,2) . here is also based the EMA 200 as a resist.
Now the Pair is forming a bearish flag! (blue). This bearish flag will generate a TP at the downside @ below the parity @ 0,965 if it will be triggered.

The cyclical /-or longterm swingview will generate a longterm tp @ the downtrendchannels upper edge @ 1,33! ( Magenta "3"?). On it s way up to that cyclical target several resist zones are based:
-EMA 200: 1,135
-0,38 fibo: 1,18
-0,5 fibo: 1,22
-0,618 fibo: 1,26
-Resistance tone formed of former lows between 1,2-1,25

Last but not least - here is the pullback!
Last but not least - here is the pullback!

These days we have seen an overshooting market. The Pair seemed to beat it s strong resistance Zone but this Zone between 1,139-1,15 could not be conquered sustainably at the Moment.
The Zone turned again into a big resistance Zone.
Prices below that Level turn the Chart again bearish! A possible target at the downside could be the Grey "3" at 1,125
Only Prices above 1,15 will lighten the Chart and generate the TP @ 1,175

TP and MoB-Zone reached
TP and MoB-Zone reached

We have reached my exspected level -the target of the sh-pattern.
Now it s getting very interesting. This Level is a potential selling zone - a MoB - the R/R for a short looks phantastic.
Can the eurusd-0.90% brake through that selling zone, a big buying-signal would be generated.A possible target of the Breakout could be the 62,8 fibo-retracement @ 1,1755 from the move 1,25-1,044.
I exspect a shortterm pullback to 1,1190 ( "3?")

LITTLE INVERSE SHS ?
Little inverse SHS ?

Will the shs push the price to the upper edge of the triangle?
Green: preferred Szenario
Gey: Alternative Szenario
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