EURUSD possible descending triangle or W shape
Updated
Hey everyone,
as you can see on the chart, EURUSD has a pretty big support below it and it is currently on the FIb 0.236 line. We are currently seeing lower volumes as well.
To me, this signals that we will soon see it bounce off either from our support or the FIb Level, which is less likely in my view.
You can also see that there is a Gann Fan on the chart, where the 1/4 level acts as a good trendline.
Trajectory 2 is also quite possible because of the current fundamentals, which I will discuss soon in an SPX post.
Feel free to leave your feedback below
cheers,
tonite
as you can see on the chart, EURUSD has a pretty big support below it and it is currently on the FIb 0.236 line. We are currently seeing lower volumes as well.
To me, this signals that we will soon see it bounce off either from our support or the FIb Level, which is less likely in my view.
You can also see that there is a Gann Fan on the chart, where the 1/4 level acts as a good trendline.
Trajectory 2 is also quite possible because of the current fundamentals, which I will discuss soon in an SPX post.
Feel free to leave your feedback below
cheers,
tonite
Note
I wouldn't open a position directly, I would wait to see what sort of candle we will be printing tomorrowTrade closed: target reached
As predicted. Take profit, new chart to come soon!
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