Recently due to the news from EU euro wenr down. Now we can see a corrective Elliote Wave, where wave 1 is already done, wave 2 is in progress, so we have a reason to wait for the wave 3 down. In addition, there will be some news about EU at Monday, so it's highly likely we'll see another strong wave down. I suggest to put a buy stop order under the end of wave 1.
The pricing is caught in a slow negative channel. 1.18 - 1.14 currently.
The drop has been painful for trend traders who can't get a lock on this activity.
There is a long-term price projection in the channel of 2017 lows (near 1.0480)
We have been in a bear situation with the EUR/USD since May 2018.
This isn't going away just yet.
A monthly close below 1.11763...
From the begining, I hesitated how it will move, will it be able to get through the upper line of the previous channel (purple line) or it will move in a new channel (blue lines). I suggest to take a look at Elliot Wave pattern built in current small channel (orange lines). It looks like the line 5 is to be done yet. That's why I suppose the EURUSD will be going...
Hi All ,
I will opening a sell at 1.13223 . After the Inverse H&S price tends to pullback into support to gather more steam for the upside move , But EUR fundamental Situation doesn't look good for that steam , As started in my very first post about EUR , we are still trading inside a downtrend range .
TPs and SL marked on chart & as always SL to entry ....
Hi All ,
this is to explain my post on EU Sell trade . as you can see price is within a range and we have sold from the top of the range where we have the right shoulder of an inverse H&S forming . Earlier today we could have TP with 15-20pips but we didn't as i reverse to my sl and give it more room for this analysis to play out .
There's a possibilities of a...
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I'm looking for a decent EUR/USD Short opportunity. 12hr downtrend channel valid until here. Within this, EUR/USD respected OTE for swingers quite well.
Along with that we‘re approaching a bearish OB between 1.13647 - 1.13975. 200-MA sitting right...
FX_IDC:EURUSD now has two choices to make :
1. Recover back to 1.129 and get further resistance and a return to 1.11 level. 1.129 is high probability resistance area. Resistance will go up in PRICE as time progresses as it is uptrending resistance. On the 15th of March the level will be 1.1304
2. Continue down to 1.10 which should act as support.
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As marked in the chart, we have a 32d cycle from 12th...