eurusd is somewhere close to renew recent highs. that will complete the whole movement upwards at the level of 1.13570 - 1.13750.
those small and unconfident price movements tell me that the impulse downwards is about to come.
most likely usdcad made a fade breakout of the long standing channel.
many traders believe is will go much further down now or after a small retracement.
i see here a strong, yet fake breakout. in order to complete the pattern it needs to break above at least of one of the weekly highs, and then the pattern will be completed to go down.
so, long, then short.
eurusd recently made new year low, followed by the spike above that move.
we need to watch for price action.
that spike might be a false move for new buyers to take down. technically it looks like a retest of 1.11500. as long as 1.11500 and 1.11750 stand, eurusd will likely to move down.
yet if the price does consolidation in the area of 1.11300 - 1.11500 we...
sell eurusd if it doesn't go far above today's high 1.12170.
with first target around 1.10800 and possible second touch of highly magnetic level 1.10000.
if eurusd breaks and stays above 1.12300 - 1.12500, this will invalidate south direction with targets mentioned above.
eurusd went down 8 days in a row, hit long-term support trend line.
have a strong feeling that fomc will disappoint.
if this happens look for these two north targets.
second target coincide with upper support trend line.
this can be the start of 3rd wave of eurusd going long.