TradeVulture

EURUSD: First Touch of Support Lost

FX:EURUSD   Euro Fx/U.S. Dollar
1702 27 12
Expecting a smack here and then progression back to what was gained. I don't trade forex. This is for my own observation and study.
Completed short for approximately 600pips.
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Hi TradeVulture.
Very good. I see one, two, three bounce in level of the 1,10515 to go more up with target in 1,1537 and 1,1876.
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Shunyi InvesBursa
What do you mean 1,2,3 bounces? I think you missed 1.1680. No?
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Greeting Shunyi.
Elliott wave it´s the way.!!
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Shunyi InvesBursa
Hi there. Most of the models are similar in some ways.
Elliott Waves are also very subjective. So in your analysis, we will skip 1.168, but go from 1.1537 straight to 1.1876? I actually think 1.168 has bigger chance to be touched than 1.1876.
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Yes, agree.
But my analysis it´s in Time Frames Majors.
Thank´s Shunyi.
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Shunyi InvesBursa
if you look back in monthly chart, 1.168x level is where the whole upward trend started, so it definately has a role. 1.1876 is also important, but I am not sure whether we touched it already, and with the downward trend pressure and market shocks, it might be hard to reach. Anyways, we will see. Good luck! This leg up might take some time to pan out, given the strong bearish bias of the market...
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Fibs just give you levels. They don't tell you progression.
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You Don


In this earlier post, if I understood correctly, the current leg is a test of the support in the yellow box on the left. The top of that box is nearly 1.2. Why do you suggest in this post that we have tested the support at around 1.146x and ready to go down? Thank you!
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The boxes are not to scale, just to indicate which legs correspond to each other. Your first touches should be concerned with the current leg you are in. Look for swing highs and lows, and you will find legs.
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