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ELLIOT WAVE: EURCHF SET TO EXTEND HIGHER IN THE LARGER CYCLEHi Traders, The rally on EURCHF from the major low at 1.11621 took the form of Elliot wave impulse structure, labelled (i)-(v). According to the Elliot Wave theory, a three wave retracement follows every impulse move, in the EURCHF's case, the decline from wave 1/A high unfolded as a three-wave (a)-(b)-(c) zigzag pattern in wave 2/B. . The correction also finds support with a bullish pin bar at a key horizontal support level that lined up with 61.8% Fib of the impulsive move. If the count is correct, a 5-3 wave cycle is completed, and the price can be expected to resumes in the direction of the impulse according to the theory. . What does this mean for the EURCHF? The price is expected to extend higher in a five-wave pattern in wave 3/C. A target above wave 1/A high is plausible in the mid-term. . Do you like this Elliot Wave Analysis? Kindly leave a comment. Thanks for reading! Veejahbee.
Long
by Veejahbee
ELLIOT WAVE: EURCHF SET TO EXTEND HIGHER IN THE LARGER CYCLEHi Traders, The rally on EURCHF from the major low at 1.11621 took the form of Elliot wave impulse structure, labelled (i)-(v). According to the Elliot Wave theory, a three wave retracement follows every impulse move, in the EURCHF's case, the decline from wave 1/A high unfolded as a three-wave (a)-(b)-(c) zigzag pattern in wave 2/B. . The correction also finds support with a bullish pin bar at a key horizontal support level that lined up with 61.8% Fib of the impulsive move. If the count is correct, a 5-3 wave cycle is completed, and the price can be expected to resumes in the direction of the impulse according to the theory. . What does this mean for the EURCHF? The price is expected to extend higher in a five-wave pattern in wave 3/C. A target above wave 1/A high is plausible in the mid-term. . Do you like this Elliot Wave Analysis? Kindly leave a comment. Thanks for reading! Veejahbee.
Long
by Veejahbee
EURCHF TO EXTEND HIGHER IN THE LARGER CYCLEHi Traders, The rally on EURCHF from the major low at 1.11621 took the form of Elliot wave impulse structure, labelled (i)-(v). According to the Elliot Wave theory, a three wave retracement follows every impulse move, in the EURCHF's case, the decline from wave 1/A high unfolded as a three-wave (a)-(b)-(c) zigzag pattern in wave 2/B. . The correction also finds support with a bullish pin bar at a key horizontal support level that lined up with 61.8% Fib of the impulsive move. If the count is correct, a 5-3 wave cycle is completed, and the price can be expected to resumes in the direction of the impulse according to the theory. . What does this mean for the EURCHF? The price is expected to extend higher in a five-wave pattern in wave 3/C. A target above wave 1/A high is plausible in the mid-term. . Do you like this Elliot Wave Analysis? Kindly leave a comment. Thanks for reading! Veejahbee.
Long
by Veejahbee
BULLS ARE REALLY WORKING EURCHF!! A little break maybe?Right, Right , Right! EURCHF Stumbled across some solid support before reversing Bullish. As you can see Bulls have been in control for some days now. Price is approaching a critical resistance zone ( the grey price level price is approaching) where we may potentially see price pullback which may also been seen as 'profit taking' . Price has potential to retrace 50% of the whole bullish move which in classical technical analysis terms we would call an 'inverted head and shoulders' . In Elliot wave terms, we can refer to as an ABC corrective pattern. I have marked the 50% retracement level. Should price pull back to this level, I will be going long with 1% capital risked. Should price move to my stop loss, my edge will be invalidated. Take profit has been calculated at double the length of the retracement (100%)
Long
by Malika_Analysis
EURCHF - WEEKLY SWING - 04. MAR. 2019WELCOME TO DACAPITAL-TRADING! EURCHF FOREX BREAKDOWN 04 MARCH 2019 1 HOUR Strong bearish reaction towards range support zone! 4 HOUR Strong sideways moving market with several pullbacks at res/sup levels DAILY Bullish market with good entry levels now! LEVELS BUY EURCHF ENTRY @ 1.13470 SL @ 1.13220 (25 Pips) TP @ 1.13840 (35 Pips) RR: 1.50, use normal risk! IF YOU HAVE ANY QUESTIONS LET US KNOW IN THE COMMENTS ALSO LEAVE US A LIKE TO KEEP OUR CONTENT FOR FREE!!
Long
by DACapitalTrading