EUR/USD Weekly update: At the MA(100)

FX_IDC:EURUSD   Euro / U.S. Dollar
49 0 5
At the MA(100) now, but if we look at the recent down move as a retracement of a possible wave 1 then we also broke above the trendline drawn over the tops of this possible retracement in which case it is likely that the MA(100) will also break...

There is alot of room to go up in any case based on RSI and stochastics...
MACD is as good as flat (not shown) and the BB's are quite close together.

Different counts are no this chart, red ones are bearish , blue ones are bullish , additional ones are possible, for me the picture is unclear at the moment, anything is possible...

This unclear picture together with a possible tightening range and BB suggests that we could be building up to a breakout though... Pulling up a monthly chart might give us clues (not for me today...).

For lower TF setups look at my other idea's, their is e.g. a possible daily Cypher which completes close to the weekly upper BB... (also shown here in the background for reference).

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