analyse update

Updated

As expected we're moving inside of this big box. At last we've tested the first blue line as expected but did not broke above. This is initially a trigger to go long. But.... time is running and at this time while the euro is still in a good position to go up I have also to say that it took too long before we saw the first test of the blue line. In my opinion the longer it takes to break above the more it tells us that there are more possibilities.

I see two possibilities (especially and typical for eurusd):

The price will continue to move between the approximative extremes of the box until we'll see a signal (up of down). This could be bullish or bearish.
The price may continue slowly to weaken and suddenly make a long swing to the upside

Note

Let's try to see how is the situation now. I found a bullish ABCD pattern inside of a bearish bat. My interpretation is that we can see 3 things. Both patterns are revealing hesitation. Price may just continue to hesitate until something happens as described in my previous message. Or price will obei to one or the other pattern. This means that the price may go up (again it can be as described here above). Or it will break the red support line with a uncertain level. Probably to where the red arrow goes. This is a key level inside of the box. But if this break down happens we're still nowhere else than inside this box. And from there price may go up again. ...... I hope to see a nice swing up, but we'll see ;-)

Note

Note

down

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The upside reversal is there for what I can see but I have no idea where it will go or how it will go.

Note

Looking to the evolution I think we are going to see the second option. Price is actually slowly going down and I think when it comes to the red dotted line I will be able to make a new point. Anyway we are still in the box and from now on the first signal to BUY is only when the price will break above this big box and hold above it.

Note

Quick update. I do not see anything new

Manu76

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