You can find out some weak 4h support up above the red box. But this could be sort of fake signals. According to the unfinished BUTTERFLY pattern, D should be 1.27 fibo AB. That makes EURUSD could reach so close to 1.1000 .
We have our last signal on EURUSD closed manually too by cautious. But not opening a new signal to buy yet. Good luck for the buyers.
I should just mention here that the EurUsd Rate is still searching for a bottom at 1.0988 Support Level at 70% bar on the monthly chart low we look for the Daily Bar Candle to close lower within this range - before a return higher is considered and then onto A continuation lower low phase.
From 1.0988 low at support level - Return high should consist of 1.1647 & 1.1681 just below 50% percent bar on the monthly chart cycle high before the lower low phase will take place.
UnknownUnicorn5176330
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@forexcandles, 30th August 2019
A News Market Update on the Cable Rate Gbp-Usd - Spot Price 1.0988: Price just this minute touching into 1.0988 level we need to wait until the Reversal Bar is recognized and the trend is confirmed - From my pre-estimate: A Return to the highside should consist of 1.1647 & 1.1681 as target levels: Just below 50% percent bar on the monthly chart cycle higher before the lower low phase will take place.
InvestingScope
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Great application of the Butterfly principals Vera. We also have EURUSD trading near the 1D Support level and this creates buy conditions on the medium term. Here is our action plan:
GWBFX
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great analysis as always vera,...
VincentWhiting
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Hi, Thanks for great analysis. I am very wary of buy signal as well.
From 1.0988 low at support level - Return high should consist of 1.1647 & 1.1681 just below 50% percent bar on the monthly chart cycle high before the lower low phase will take place.