This is only idea, again wait for the signs of possible short based on candle stick closing and major resistance line. A possible 5-wave move is drawn according to current movement of the price action.
Possible short trade opportunity for EUR_USD
AUD_JPY: Short on current resistance till the end of leg 5.
This is my 5-wave -0.83% analysis speculation for the GBP_USD. Looking at the current structure suggest that it is now planning to move higher high. This is based on the Daily Chart . The structure tells us that 1.34555 level will be the new level of support. The current structure of the chart is intentionally making a flag pattern . Support level at 1.32331...
This is my 5-wave analysis speculation for the GBP_USD. Looking at the current structure suggest that it is now planning to move higher high. This is based on the Daily Chart. The structure tells us that 1.34555 level will be the new level of support. The current structure of the chart is intentionally making a flag pattern. Support level at 1.32331 will hold the...
Bullish Euro still have potential to move to the upside. Two pattern formation is seen for this structure analysis: Gartley Pattern: Bearish Cypher Pattern: Bullish
Bullish Euro still have potential to move to the upside. Two pattern formation is seen for this structure analysis: Gartley Pattern: Bearish Cypher Pattern: Bullish
I could see shorting from the gap is not a bad idea. From this level could start the wave 3 going through wave 5 going down At this level is also a strong resistance level that could break the Euro down. Wave 4 could not go further high as it is limited to resistance at the current support. A dovish ECB decision could derail the Euro and move downwards.