Hello Traders,
yesterday the FX pair fell clearly from 1.19103 to 1.17140. At the early trading today a lower low occurs at 1.16878 which compete a five Wave move. Here a Wave 1/a is done. At this low of 1.16878 the EURUSD meet the rising trendline which connects the lows at 1.05237 (2017-01-03) and 1.09109. This line was often penetrated in the past and is not broken still. So because of the frequency this line was touched it makes it important.
If Wave 1/a is done a Pullback to 1.18239 to 1.18635 is at forefront which include the Wave 4 of lesser degree and a common target for a Wave 2/b with the 0.618 RT of the decline. After that a strong decline is still to come.
Have a great evening.............
rubennase
yesterday the FX pair fell clearly from 1.19103 to 1.17140. At the early trading today a lower low occurs at 1.16878 which compete a five Wave move. Here a Wave 1/a is done. At this low of 1.16878 the EURUSD meet the rising trendline which connects the lows at 1.05237 (2017-01-03) and 1.09109. This line was often penetrated in the past and is not broken still. So because of the frequency this line was touched it makes it important.
If Wave 1/a is done a Pullback to 1.18239 to 1.18635 is at forefront which include the Wave 4 of lesser degree and a common target for a Wave 2/b with the 0.618 RT of the decline. After that a strong decline is still to come.
Have a great evening.............
rubennase