Short

$EURUSD | Gwaves Detected | Target Defined

Updated

Hello Traders,

The EUR is showing signs of an imminent decline. Gwaves have been detected and have given a potential time and date for price. The target is 1.08293 @ 5/29. Look for the curvature of the red circle to govern price moving forward.

Best,
Sirak Babayan
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Comment

Tech Note: Notice how even though price slightly broke out of the red field, it shot back down with force. Imagine it like this, If you put two magnets with the same polarity toward one another, the stronger you push them together the stronger they will fly away from each other once the pressure is let go. That is essentially what we are seeing here.

Comment

Update: Price broke out of the Red price field but was stopped short by the hidden resistance level highlighted in dark grey in the original chart and a lighter grey in this chart. Price still remains on track to hit target.

Comment

Update: With the breakout of the overhead resistance Gwave's is now pointing to higher targets. A potential for a higher target is around 1.13215 and in case of a really strong market 1.14500~

Look for the levels highlighted in red to act as future support and resistance as price continues to carve higher highs.

I do expect a short trade opportunity once this final leg is over.

Comment

Update: Gwave level acts as resistance. A breakout would prompt a strong move up.

Comment

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