The EURUSD continues to move in its downtrend channel to reach the price range of 1.1600.
The correction waves are shown in the chart.
If you like this idea or have your own opinion about it, write in the comments. I will be glad
aand if the price follows this prediction analysis and at given time of the unemployment news if we r in starting of last E part of this downside, it means we will have sharp downside and fast returning up with big wick cose of all the orders down there at the gap closing....
so as per all the structure this looks very probable outcome.
this whole structure is last wave from big diagonal presented in chart in comments section, now what we see here is abc structure with a=c with contracted flat in the middle. wave c is copied from wave a which doesnt necessarily need to look like it... it depends of the news and data what deviation it will make. so im expecting some correction and another wave...
ill try to explain something that disturbs me with previous bull view on eu in comments so now ill present bear option.
that last drop down is too small to be alone here, so taking whole structure as an example, that A move down has the same length of the first wave as we have now in the wave E. so as shown in smaller time frame chart we may get waited move to the...
overall movement is for upside as we r seeing more weakness on dollar index, so the sub waves of the correction r marked.
those red abc in the last wave looks very similar, so it may go some more up to that yellow line and find resistance there.
but if this dont drop and if it brakes that green line that would be invalidation of this counts.
well this structure became even more complex, red A has not repeated yet, in the wave B in the midd has developed a complex diagonal /purple/ which is now at the endings and as showed on the chart im expecting some closest form of a diagonal with which the price would came to that blue line which is very strong support. price must bounce of there! but will it...
my expectations for eu r that we r going to test that blue line some were at the orange parallel and if we have strong brake it may retest that as a support and going up is imminent. but if we bounce from there we may retest the low and more likely to brake it.
for now it very much depends what structure it will make thru the night, with orange is presented 3...
Hi guys !
I shared a analysis on EURUSD two days ago with a possible target at 1.20.
Is still active but more difficult than expected. So here is the possible waves before 1.20 .
So, there is two possible scenarios, with a support breakout, and a pullback to 1.17 before a new run. That's for the worst scenario.
In the best idea, the support at 1.1745 is strong...
