Weekly time frame:
1. Swing is bearish, INT is bearish.
2. Price reached above the EQ and shifted bearish, As sign that the swing pullback is over.
3. After iBOS price pulled back to the extreme and did bearish CHoCH as a sign that the pullback
phase is over.
4. Price has reacted to the old demand zone, and reached the supply that caused the break.
We expect...
The ultra-modern patron expectancies survey from the European Central Bank (ECB) suggests that euro area purchasers have revised their inflation expectancies downward for the following twelve months due to the fact March. However , they expect that inflation will continue to be above the ECB`s goal over the lengthy time period.
According to survey consequences...
It is expected that a trend change will be formed in the resistance range and we will see a corrective trend. By passing from the resistance range to the Fibonacci levels and the resistance trend line, the continuation of the upward trend can be formed
D: Uptrend, price broke below upward trendlinef and hit -27 on daily FIB
4H: Downptrend, price retraced 61.8% and hit -61.8% on 4H FIB
1H: Downtrend, price retraced 78.6% near 4H support/resitance zone.
CURRENTLY: Price is heading into a wedge. I'm looking for price to eaither break obove trend and continue long to previous suport area
OR
Break below trend...
D: Uptrend, price retraced 61.8%
4H: Uptrend, price retraced 78.6% after a double bottom at support/resistance zone
1H: Uptrend, price retraced 100% and passed -61.8, rising to the next zone due to news
CURRENTLY: I'm looking for price to go short to retest lower support/resistance zone as support.
...THEN, go long to major resistance
D: Uptrend, price broke below upward trendlinef and hit -27 on daily FIB
4H: Downptrend, price retraced 61.8% and hit -27 on 4H FIB, so far
1H: Uptrend, price retraced 78.6% and hit -61.8 on 1H FIB, and retraced + bearish divergence
CURRENTLY: I'm looking for price to break below trendline and go short to -27 on 1H FIB
Confirming for an already broken Wyckoff structure at the bottom of the fractal, next point is a mitigation of the last point of the last downward trend or maybe a total liquidation of it
History of Euro Dollar:
The Euro (EUR) and the US Dollar (USD) are two of the most traded currencies globally. The Euro was introduced on January 1, 1999, as the official currency of the Eurozone, initially as an electronic currency. It became physical tender three years later, replacing many national currencies. The Euro's value against the US Dollar...
EUR USD has had a long journey travelling between 1.05 and 1.1. At the time writing this , ongoing war between Russia and Ukraine is escalating benefiting Russian side. This has created a condition in witch euro currency is under immense pressure and on the other hand we have a dollar with high CPI readings and a FED unable to cut rates as they promised. This...
wee looking at a reversal to the upside trend of the market its a long process to achieve the target but eventually we'll get there thats tomorrows target
we see eurusd is in a bullish channel we are looking for buys this week as we see that eurusd has not yet retested a zone that it broke before forming the channel
EURUSD with the one ratio of 1/4.
.
.Trade Idea:
📍 Entry: 🎯 Target: ⛔ Stop Loss: (MARKED IN CHART)
💡 RISK REWARD 1 : 4
💰 Risk 1% of your trading capital.
⚠️ Markets can be unpredictable; research before trading.Disclaimer: This trade idea is based on Elliott Wave analysis and is for informational purposes only. Trading involves risks; seek professional advice...
