Macro Euro Monthly Chart (channels drawn on quarterly chart) - We have been consolidating for months on top of the lower part of Euro's historic uptrend channel, against shorter term steeper trendline. Ask yourself which one will win.. Cut out the noise and zoom out to get your ideas, zoom in to enter your trades and swing your way to freedom.
This is the first and probably the last fiat currency chart i will post. What can I do? I got triggered by one of the promoted posts on tradingview's twitter feed.
This thing is too easy, cant be more textbook Elliott Wave Theory. I tried to make it as educational as possible, dont use it for trading advice, although it will get there. :)
*Well, idk if "thrust"...
The Shark Pattern
The Shark Pattern is dependent upon the powerful the 113% Reciprocal Ratio @1.2223 works extremely well retesting prior support points 1.13% as a strong counter-trend reaction. Represents a temporary extreme structure that seeks to capitalize on the extended nature of the Extreme Harmonic Impulse Wave.
Demands immediate change in price action...
As a downtrend occurred the past couple days for EURUSD, you should expect for it to go lower around 1.2230s-1.2240s short term. This is reading from the 15 minute chart on the Ichimoku Cloud indicator.
The meandering price action of the EURUSD is captured in this analysis in a descending triangle. This chart pattern is ideally bearish. A close above ~1.24900 is marked as the point of invalidation (POI) for the bearish implications of the 4hr EURUSD descending triangle.
A breakout below ~1.22398 means that the EURUSD could possibly decline to ~ 1.19298 which is...
The 4hr of the EURUSD currently is identified in this analysis to be in a Minor wave C position that is part of an Elliott wave combination (W-X-Y) structure. Red lines on the chart indicate resistance where the EURUSD is expected to hold before continuing its downtrend.
Point of invalidation (POI) for this analysis is a price close above ~1.24104.
Ideal point...
E.T 30M for ECB Monetary Policy Meeting Accounts to take place,
we're expecting a bullish move as BUYERs are ready to swing in!
Technical Bias, Dynamic support at 1.2299 (where we'll buy)
in accordance with 200D WMA Bounce off expected (Chart TYPE - H4)
Two Targets with 1.2408 & 1.21645
where Stop loss would be 1.22414
GOODLUCK!
A harmonic pattern IN his way to complete @1.2250
the pattern called New Cypher, in our opinion we don't expect the pattern will complete and there are a lot of support points above D point,
We expect the target will be 1.2310 then 1.2290
Good Luck
Thank you
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Do not read and leave .... Like, Comment and Follow...
Well, I see some buying preasure after NFP. It doesn't promise a big move up. Down channel is broken and I'm expecting the re-test of this channel.
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So, euro can't chose the way it wants to go. Now I can see a sell setup here BUT I will put a "sell stop" order at the level 1.2280. Breaking of this level should trigger the price to fall.
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This price zone was aggressive in January, So we expect it will do the same here
For short term, We expect it will rise to reach 1.2280 or 1.2300
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Thank you,
Dont read and go ...... like and follow , it's so east :)
I'd rather take the short side of this market now. See my previous analysis of this pair in the link below, so it went wrong and now we have an opportunity to sell.
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On the Eur-Usd chart is forming a Bullish Gartley with a point D at 1.20525. So, the currency pair most likely will fall in the next days before starting a bullish trend. This analysis confirms my previous ideas on Eur-Usd.
here is my analysis I see this market heading south and into this daily pink triangle which we are In , I see a potential bounce up then bounce down to either tp1,2,3
