EUR/USD-Euro/Dollar – NFP vs French Elections
Updated
EUR/USD-Euro/Dollar has touched our previously predicted and mentioned 1.09800 Levels, as per the posted analysis.
Due to Price Action developing recently, we have decided to update the SELL Positions and Levels.
EUR/USD-Euro/Dollar is unfolding with Minor C (light blue) which is the last piece of the puzzle for the entire Primary Corrective Cycle (ABCDE (red)).
With Primary E (red) coming to an end, so will the Cycle Wave IV (black).
Previous Analysis Quote:
”Long-Term wise, we are are looking at a Market Shift and a Rebound in the Dollar Index (DXY), therefore, we would be very interested in looking for a Long-Term SELL Set-up for the EUR/USD-Euro/Dollar later on, when the current Major Consolidation will be over.”
This updated Wave Count suggests that we are ending the Corrective Cycle.
Minor C (light blue) would finalize the Cycle for Intermediate Y (black), which would end the Cycle for Primary E (red), which in turn would end the entire Corrective Structure for Cycle IV (black).
Minor C (light blue) unfolded with 5 Waves Structure on the up-side, leaving us to analyze only its last leg, Minute V (green).
Minute V (green) is expected to end at the 61.8% Fibonacci Extensions of Minutes III & IV (green), or possibly at the 150-161.8% only if we would encounter an extension due to French Elections outcome.
Currently EUR/USD-Euro/Dollar is trading at the 100% Fibonacci Extensions of Minors A & B (light blue) which are acting as a Resistance.
In our view, EUR/USD-Euro/Dollar still has room to shoot towards the up-side and confirm the Trendline Resistance (black), thus finalizing its last legs.
At this stage, we are waiting for the Bearish Divergence to confirm the end of the Up-Trend.
EUR/USD-Euro/Dollar – SELL Positions – Medium & Long-Term:
Aggressive Entry – 1.10600
SL – 1.11400
Moderate Entry – 1.11000
SL – 1.12000
Conservative Entry – 1.12000
SL – 1.13000
TP1 – 1.07500
TP2 – 1.04000
TP3 – 1.01000
* Note that Long-Term wise, this SELL Set-up has potential to reach 0.95000 Levels.
* Safety Measures:
– When in the green, move SL to break-even or in profit.
– If Conservative, wait for Bearish Divergence Confirmation.
– If very Conservative, wait for the Bearish Trend to start and get in on the next Flag Formation.
Many pips ahead!
Due to Price Action developing recently, we have decided to update the SELL Positions and Levels.
EUR/USD-Euro/Dollar is unfolding with Minor C (light blue) which is the last piece of the puzzle for the entire Primary Corrective Cycle (ABCDE (red)).
With Primary E (red) coming to an end, so will the Cycle Wave IV (black).
Previous Analysis Quote:
”Long-Term wise, we are are looking at a Market Shift and a Rebound in the Dollar Index (DXY), therefore, we would be very interested in looking for a Long-Term SELL Set-up for the EUR/USD-Euro/Dollar later on, when the current Major Consolidation will be over.”
This updated Wave Count suggests that we are ending the Corrective Cycle.
Minor C (light blue) would finalize the Cycle for Intermediate Y (black), which would end the Cycle for Primary E (red), which in turn would end the entire Corrective Structure for Cycle IV (black).
Minor C (light blue) unfolded with 5 Waves Structure on the up-side, leaving us to analyze only its last leg, Minute V (green).
Minute V (green) is expected to end at the 61.8% Fibonacci Extensions of Minutes III & IV (green), or possibly at the 150-161.8% only if we would encounter an extension due to French Elections outcome.
Currently EUR/USD-Euro/Dollar is trading at the 100% Fibonacci Extensions of Minors A & B (light blue) which are acting as a Resistance.
In our view, EUR/USD-Euro/Dollar still has room to shoot towards the up-side and confirm the Trendline Resistance (black), thus finalizing its last legs.
At this stage, we are waiting for the Bearish Divergence to confirm the end of the Up-Trend.
EUR/USD-Euro/Dollar – SELL Positions – Medium & Long-Term:
Aggressive Entry – 1.10600
SL – 1.11400
Moderate Entry – 1.11000
SL – 1.12000
Conservative Entry – 1.12000
SL – 1.13000
TP1 – 1.07500
TP2 – 1.04000
TP3 – 1.01000
* Note that Long-Term wise, this SELL Set-up has potential to reach 0.95000 Levels.
* Safety Measures:
– When in the green, move SL to break-even or in profit.
– If Conservative, wait for Bearish Divergence Confirmation.
– If very Conservative, wait for the Bearish Trend to start and get in on the next Flag Formation.
Many pips ahead!
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Wave count updated.
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