EURUSD:Elliot Waves Analysis 1hr TradeHey guys. We see a correction wave "abc" . "b" wave near to complete and start the "c" wave at 1.08514.
Eurusdwave
EURUSD IdeaA pullback and price correction for the EURUSD to 1.1515, after the sharp bearish in a week.
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EURUSD ShortThe EURUSD continues to move in its downtrend channel to reach the price range of 1.1600.
The correction waves are shown in the chart.
If you like this idea or have your own opinion about it, write in the comments. I will be glad
EURUSDaand if the price follows this prediction analysis and at given time of the unemployment news if we r in starting of last E part of this downside, it means we will have sharp downside and fast returning up with big wick cose of all the orders down there at the gap closing....
so as per all the structure this looks very probable outcome.
EURUSDthis whole structure is last wave from big diagonal presented in chart in comments section, now what we see here is abc structure with a=c with contracted flat in the middle. wave c is copied from wave a which doesnt necessarily need to look like it... it depends of the news and data what deviation it will make. so im expecting some correction and another wave down to that red line which is showing the gap from 04.2017.
with that i think whole daily diagonal will be finished and, will we have huge wave up cose of that massive divergence, or will we have just a bigger correction for more down well see....
eurusdill try to explain something that disturbs me with previous bull view on eu in comments so now ill present bear option.
that last drop down is too small to be alone here, so taking whole structure as an example, that A move down has the same length of the first wave as we have now in the wave E. so as shown in smaller time frame chart we may get waited move to the up side but it may be very short lived and maybe drop will follow as in A wave as shown with ghost candles, in this case ill put SL on BE, or it may never make that HH and proceed down, in that case ill follow and see what smaller waves will tell along the way...
if u want to be updated show some love...
eurusdoverall movement is for upside as we r seeing more weakness on dollar index, so the sub waves of the correction r marked.
those red abc in the last wave looks very similar, so it may go some more up to that yellow line and find resistance there.
but if this dont drop and if it brakes that green line that would be invalidation of this counts.
EURUSDwell this structure became even more complex, red A has not repeated yet, in the wave B in the midd has developed a complex diagonal /purple/ which is now at the endings and as showed on the chart im expecting some closest form of a diagonal with which the price would came to that blue line which is very strong support. price must bounce of there! but will it bounce as a correction or as a deeper up structure will leave it for then..
so if u like the analysis and would like to see set ups along the way in comments in smaller time frames show some love here so ill know there is for who to make those...
eurusdmy expectations for eu r that we r going to test that blue line some were at the orange parallel and if we have strong brake it may retest that as a support and going up is imminent. but if we bounce from there we may retest the low and more likely to brake it.
for now it very much depends what structure it will make thru the night, with orange is presented 3 wave abc structure with running flat in the middle but if thats not b wave from the structure im may be wave 2 from bigger motive structure and that will tell us braking of that resistance, and with red is motive with deeper correction which may form cypher pattern. and these r just several most probable options, but there r even more depends what will give us along the way...
EUR/USD, strategy and targets updateHi guys !
I shared a analysis on EURUSD two days ago with a possible target at 1.20.
Is still active but more difficult than expected. So here is the possible waves before 1.20 .
So, there is two possible scenarios, with a support breakout, and a pullback to 1.17 before a new run. That's for the worst scenario.
In the best idea, the support at 1.1745 is strong enough to push the next wave toward 1.18 and create a new support close to this area.
If that will happen, we can expect the nexts 2,3,4 and 5 waves.
Resume :
Open BUY position : 1.1745
STOP LOSS : 1.171
Target #1 : 1.18
Target #2 : 1.185
Target #3 : 1.194
Target #4 : 1.2005
Idea will update every days !
Thanks for your time.
