EURUSD - Buy towards 1.15

We got a clean impulse wave down for blue wave C of lila wave (B)

We should therefore see price go higher for wave (C).

I think we might be in a triangle but will be sure once wave (C) is completed.
We will adjust our view depending if price moves up in 5 waves or 3 waves.

Anyway, you can buy after price breaks above the upper channel line & MACD cross.

Note

Don't hesitate to like, share my ideas and
Subscribe to my FREE Telegram Channel for more updates
t.me/em16public

Note

Note

We might be in a wave 4. So we might see more weakness ahead. But as long as we stay above 1.1210 we might remain in the Triangle count.

Note

We were in wave 4
Now looks like we are in an ending diagonal

Note

We might be in this kind of Diagonal and may find resistance around 1.1350

Note

I expect price to go down for wave 5 of the diagonal count.
Looking for resistance around 1.1380 - 1.14000

Note

Looks like we might have a Barrier Triangle, it's same as a normal triangle except that one of the sides is horizontal and that's the side we break out, in this case higher. Remember that triangles occur prior to the final wave in the pattern of one larger degree, meaning we will see just one more push higher from here before resuming the downtrend. (Don't try to trade this yet and especially not on the long side !)

Note

We should see some resistance now.
Think about taking some profits if not all of it!

Note

I suspect Dollar Index to fall, meaning we might see higher prices here.

Note

Going higher for a potential wave (iv). But beware, if price goes above 1.1355, we are then in bullish territory!

Note

Watch out for tomorrows ECB Data and Draghi's speech !
And also, friday's NFP report

ElliottWaveBelgium

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.

ElliottWaveBelgium