Want to share my wave analysis for EUR_USD as understudy.
Buy trade set-up idea with 458 pips to the top.
Change of Trade set-up. Go long short ABC pattern Long and Short Trades for Euro USD.
While analyzing the EU monthly chart, I realized that current support line may not withstand the down surge of Euro. It seems euro dove so much deep, the only possible pullback is at 1.14308 level but at slightest level. Furthermore, the Euro could still go up, as high as 1.27 level (I highlighted the area of resistance so that you could visually spot them.) At...
Euro to break the low for the take-off. This could happen at the top later on. And could form a head and shoulders pattern. For information please do the back testing.
Euro could break the top before going downtrend. This confirmed based on the current movement of the charts and measured from ABDC pattern.
As I published earlier, this pair is on the brink of moving up. A head and shoulders could confirm that this. With the wave move of ABCD pattern with a termination of the pattern on top.
Another risk-on currency potential chart pattern
It looks like almost all currencies peg against the dollar has the same ABCD pattern. Check the chart structure and measured the support resistance levels it seems inevitable that this bigger ABCD pattern will kill it. After this pattern a downtrend will start and keeping the risk-on currencies cheaper in the next coming months and years.
Buy the Aussie at the pull back. Then Sell the Aussie at the Daily Support for Leg 5.
GBP bearish move coming to an end. A pull-back at the support and could make a possible ABCD pattern to end the bullish move for the pound.
More pressure for euro to down. Good risk reward ratio.
Euro to take-off at 1.16745 level and goes to a wild harmonic pattern flight path. Then will unleashed a bomb at 1.25384 level. And with that attack, will bring Euro back to a flat at 1.06423 level as final target.
One more up to resistance level before moving to 440 pip down the support level. Trend is still bearish but one more move up is needed before the start of the long down trend.
Chart and structure suggest that USD will drop for about 180+ pips.
Euro still haven't reached the cellar. Has to go down before going up. This time it is making a patern for the support. Still strong pressure for euro, so sell it at the resistance.