EURCHF forecast, waves completion, observed flat market
Following the 5th wave completion, and observing a flat market in the past 1 or 2 market day(s), along with diminished momentum not only in the EURCHF pair, but also many other pairs, major breakouts are eminent in the upcoming week(s). EURCHF in particular, in the 4th wave, it did exhibit a breakout of the second major wave of the descending bearish triangle. Observing waves completion (W6) with a flat low momentum market at the lowest prices of the major bearish triangle, a breakout is about to happen. Having in mind of opposite reactions, and momentum gains, with oversold EC market in mind also, I would expect to long around the current major monthly support area.
Escpecially having in mind that the EMA 200 (home EMA) is likely to require an H4 factor 4 to a pull back home of the tren, I will take my higlhy probabily chances with a long position !!!
Escpecially having in mind that the EMA 200 (home EMA) is likely to require an H4 factor 4 to a pull back home of the tren, I will take my higlhy probabily chances with a long position !!!
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