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$EUR vs. $USD Daily Chart.Catch the corrective downtrend|#eurusd

Updated

Traders,

The decline from the Feb.’18 high of 1.2555 is identified as a counter-trend pattern (a)-(b)-(c) that ended primary wave 1(circle) from the early Jan.’17 rally. Since then, prices dropped rapidly to the late Aug.’18 low of 1.1301 whilst unfolding into a five-wave expanding-impulse pattern (a). Evidence of a five-wave impulse is usually enough to confirm the larger uptrend has ended.

Wave (b) is acting as the counter trend to the preceding wave (a) developing into a Zig-Zag itself. Using fib-price ratios and proportions we are awaiting stage price-rejection and a subsequent reversal signature, projecting terminal price targets at 1.2040(+/-).

The completion of the (b) wave is indicating that our target, wave (c), with downside projections at 1.0815(+/-), will be developed into a five-wave impulse pattern, and thus we will be able to add another overlay of fib-price-ratio measurements to test for convergence levels later.

Take a look at my inverted and totally synchronized perspective DXY view here:

$DXY Weekly Chart. Directional change| #dxy #dollar #usdx

This level 1.0815(+/-), provides a critical point where a reversal would indicate the continuation of the primary trend 1-5(circle) and the beginning of the 3rd(circle) wave impulse.

Thanks for your attention

Trade with Discipline
Best

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For a better view

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Absolute synchronized outlook for DXY
DXY Daily Chart

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Just published an article on #SeekingAlpha: “Making Clear Price Projections For The EUR And U.S. Dollar”. A small recap for the EUR, U.S dollar and the US10yr treasury yield, setting target projections and analyzing price amplitude. Any comments are more than welcome.
seekingalpha.com/article/4205502-making-clear-price-projections-eur-u-s-dollar

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Getting ready for one last drop completing A-B-C(circle), opening the way for the larger Zig-Zag correction.

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There is a variation which could mean one more higher high before the drop. Will post it as soon as it is valid

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Finally, got the higher high, pattern and price amplitude were incomplete. Looking for sales, backed up and synchronized with DXY, however, this time the price targets completing this mini-drop A-B-C(circle) are a lot higher.

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Devastating drop, as the last wave of a Flat pattern, should be. The first target was hit, looking for more downside to complete the pattern, after some correction.

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Price dropped at previous target levels, completing an Exp flat instead of a Run flat. Reversal standby triggered, watch for buys from this level.

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Euro/US$ still has more downside potential to projected price levels at 1.0508(+/-) where the completion of the primary 2nd corrective zig-zag pattern is expected.
I have launched a blog as my personal thought repository and worth sharing readings for all things trading and markets that may catch my attention.
You can find it here: trading-manifesto.com/

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The first target was hit being off some pips. Major low has ended (a)-(b)-(c)
zig-zag correction for primary wave 2(circle), confirming the uptrend as primary wave 3(circle) remains in upside progress.

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Price is moving to the second target. Eyes 1.0670 (+/-) for diagonal completion. DXY also one more leg up.

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ChrisMark

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