Hi All,
I posted last week that EUR is showing bullish signs base the on the count I shared (Please see link below) but as a prudent trader, an alternate view is always a must to get a holistic view of the market; and prepare yourself for all possible scenerios in case the market turns against you.
Here's is bear count:
Wave 1: Impulse down since the US election at the termination of the wave (E) of a triangle
Wave 2:Complex Expanded flat with an ending diagonal wave C that retraced to a key fib level @ 0.50%
Wave 3: We are currently in wave 3 with sub 1 and sub 2 wave complete
Forecast Wave: Over the next week or so, we should see a sharp decline with wave 3 of 3 in progress if this count is correct.
In addition, DXY and Swissy are both showing USD bull in the wave count and these two pairs move in sync with the EURUSD which indicates that EURUSD will head south.
I am still on the fence as to which way the market will turn but I anticipate the market will tell us this week as to who will win. Bears vs Bulls!
Happy Trading!
I posted last week that EUR is showing bullish signs base the on the count I shared (Please see link below) but as a prudent trader, an alternate view is always a must to get a holistic view of the market; and prepare yourself for all possible scenerios in case the market turns against you.
Here's is bear count:
Wave 1: Impulse down since the US election at the termination of the wave (E) of a triangle
Wave 2:Complex Expanded flat with an ending diagonal wave C that retraced to a key fib level @ 0.50%
Wave 3: We are currently in wave 3 with sub 1 and sub 2 wave complete
Forecast Wave: Over the next week or so, we should see a sharp decline with wave 3 of 3 in progress if this count is correct.
In addition, DXY and Swissy are both showing USD bull in the wave count and these two pairs move in sync with the EURUSD which indicates that EURUSD will head south.
I am still on the fence as to which way the market will turn but I anticipate the market will tell us this week as to who will win. Bears vs Bulls!
Happy Trading!
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Penerbitan berkaitan
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.