EURUSD had some strong moves the last days.
The wave count could either be ABC or an impulse. Last impulsive move could be wave 3 or wave c.
We got nice price action at the turning points. For the low of wave 2 we got a perfect fake breakout from the outside/mother bar. It is even clearer on the 4H timeframe:
4H Chart
Pinbar was formed and price began to rally for wave 3.
Now another fake breakout was formed. I expect EURUSD to move to the last major high, which would finish the 5-waved impulse. (golden area)
We should look for some nice price action on 1H/4H chart with would probably come with divergence as usual between wave 3 and 5.
The wave count could either be ABC or an impulse. Last impulsive move could be wave 3 or wave c.
We got nice price action at the turning points. For the low of wave 2 we got a perfect fake breakout from the outside/mother bar. It is even clearer on the 4H timeframe:
4H Chart
Pinbar was formed and price began to rally for wave 3.
Now another fake breakout was formed. I expect EURUSD to move to the last major high, which would finish the 5-waved impulse. (golden area)
We should look for some nice price action on 1H/4H chart with would probably come with divergence as usual between wave 3 and 5.
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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.