We have approached a VERY key zone on the EURUSD pair.
Weekly Chart: https://i.sli.mg/sTgyQv.png
I am expecting a breakdown below this support area.
This setup is very long term so please keep that in mind. If you plan to follow it, make sure you plan accordingly for risk % and margin requirements.
Here is my ...
Completion of 12345AB Elliott wave cycles, waiting on the final C. We hit strong resistance right around the expected 140.500 area. This will be interesting to watch. if we break the trend support i expect a retrace down to around 133.600
Watch DXY as it will give you an idea of where to place trades on other USD pairs. I am predicting a bounce off the resistance line at around 96.27, then a bounce off support at 95.26. FInally one more bounce around 96.27 down to support at 94.01.