Triangle has formed on the EURUSD Creating wave B or X. Triangle relationships tend to retrace .618 of the prior alternate wave. This gives us a good Take profit level. Wave E only has to retrace 50% of wave D to become valid. When that happens, keep a close eye for a entry to a new impulse wave to create Wave C or Y.
First, a review of last week’s forecast: The experts’ opinion about EUR/USD’s bearish sentiment proved right – the pair fell by 120 points during the week. However, this is exactly how short it was of the 1.0650 low indicated by graphical analysis. Thus, the forecast came half true. Forecast for Upcoming Week Generalizing the opinions of scores of analysts...
Hi all, On the EURUSD we have a bat pattern in the make and also an AB=CD around the same area. The green area is the potential reversal zone, in which prive is likely to reverse. Targets are indicated by the red arrows. Best of luck!
Hello Traders! Sell limit - 1.09134, S/L - 1.09900, T/P - 1.06000 Best regards, Powerful Traders.
Although EURUSD long opportunities seems appealing based on wave count on higher timeframes, the H4/daily correction is not over yet. Hence presents a triangle break opportunity to the downside. Since all EUR pairs seems to be in some sort of a corrective structure, major upcoming news could be the manipulation point for a clear direction. In the meantime, lets...
EURUSD possible wave structure shows the pair ready to head lower. We are currently in a 3 of a 3 for wave 5.
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For starters, a review of last week’s forecast: The forecast for EUR/USD panned out almost fully – according to the experts and graphical analysis on H1, the pair was supposed to be in a sideways trend, rebound from the upper boundary of the channel early in the week, then drop and return to the upper boundary. Forecast for Coming Week Summing up the views of...