Hello dear traders and investors,
As we can see EURUSD still going in range, but the phase moved down to DAY LOWs.
On H4 we had a nice bearish movement towards DAY lows and provocating people to open short trades. Market Maker defended price at 1.13200 where majority of traders saw a classic Bullish Price Action Pattern (Cup with a Handle).
In fact all of them were washed out and now we can see that price now at critical level (below fibo 80%). Usually it means that bearish movement will continue, but if we consider Day TF and that Day Lows are nearby, we can make an exception from the rule. Mostly likely whole movement below 1.11850 is a provocation.
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On Daily TF we can see a classic scenario where price tested fibo 40%. And as we can see DAY LOW still not tested, im expecting a one more bearish impulse.
On H1 we have a classic bearish movement with 4-5 attacks. For now we stacked in a small range ( but it's the biggest one in that movement), and it means that soon we gonna have a retracement or market will turn around to bullish side.
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Conclusion:
On Day TF price at 40%
On H4 TF price broke fibo 80%
On H1 price did 4-5 cycle attack and stacked in a biggest range of that movement
Day Low still not tested
What we have to do with all that information?
Scenario #1
We gonna see one more bearish impulse towards DAY LOW and complete 5 cycle attack, and after that price will retrace atleast 70% of that movement.
Scenario#2
Price gonna set above 1.11853 and after that we can long till 1.14 with next target of 1.17
As we can see EURUSD still going in range, but the phase moved down to DAY LOWs.
On H4 we had a nice bearish movement towards DAY lows and provocating people to open short trades. Market Maker defended price at 1.13200 where majority of traders saw a classic Bullish Price Action Pattern (Cup with a Handle).
In fact all of them were washed out and now we can see that price now at critical level (below fibo 80%). Usually it means that bearish movement will continue, but if we consider Day TF and that Day Lows are nearby, we can make an exception from the rule. Mostly likely whole movement below 1.11850 is a provocation.
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-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Conclusion:
On Day TF price at 40%
On H4 TF price broke fibo 80%
On H1 price did 4-5 cycle attack and stacked in a biggest range of that movement
Day Low still not tested
What we have to do with all that information?
Scenario #1
We gonna see one more bearish impulse towards DAY LOW and complete 5 cycle attack, and after that price will retrace atleast 70% of that movement.
Scenario#2
Price gonna set above 1.11853 and after that we can long till 1.14 with next target of 1.17