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Eurusdshortsetup

EUR/USD [1DC] What Next?! Noise FREE Setup until December 2017.OANDA:EURUSD Hi Guys, This setup is my own expectation of EUR/USD price action up til December 2017. Total Direct bearish action: 750 Pips Total indirect bullish/bearish action: 3000 Pips 1st Impulsive bearish wave: From 1.09400 to 1.06600-SHORT 2nd Impulsive bullish wave: From 1.06600 to 1.09200-LONG 3rd Impulsive bearish wave: From 1.09200 to 1.05000-SHORT 4th Impulsive bullish wave: From 1.05000 to 1.08200-LONG 5th Impulsive bearish wave: From 1.08200 to 1.03300-SHORT 6th Impulsive bullish wave: From 1.03300 to 1.06600-LONG 7th Impulsive bearish wave: From 1.03300 to 1.01600-SHORT This setup is based on price action during 2016 which has been ALMOST IDENTICAL in its behavior in comparison with 2017 so far! The price is moving in a huge descending channel and now is forming a big flag that will bounce off the down trend line and break the flag bottom line to 1.05000.to go back and retest recent highs around 1.082. Read the chart with some focus to follow up with the rest. Remember that this setup can change anytime due to any intense fundamentals that might VOID the whole analysis. Regards,
by AhmedMesbah
Upcoming Long or Short Opportunity: EU at Converging TrendlinesI'm mostly on wait-and-see-mode with this trade, but there's opportunity for large, longterm profits in EU. I'm looking at this inverse head and shoulders pattern/symmetrical triangle. Here are two scenarios I'll be tracking if/when the price hits the 1.07940 area: 1) Inverse head and shoulders neckline is broken. In this case, we are in for a longterm uptrend (TP targets would be identified later). I would recommend buying into this trend after a brief retrace to around the 1.08000 level (psychological support after breakthrough). 2) Continuation of trend within the symmetrical triangle. In my opinion, this is the more rational scenario given Eurozone instability (Brexit, elections) and U.S. strength. Also, my MACD and RSI techs indicate a potential reversal. This is a medium-term downtrend to a TP at 1.06000 (again, a nice psychological level). Symmetrical triangles are traditionally neutral in nature, so I wouldn't be surprised if the lower trendline acts as support for a pivot up. I'll be monitoring this and will provide updates to my idea. Good Luck!
by Zedro
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