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Eurusdwavecount

EUR/USD and a POSSIBLE BUY#PreparationHey tradomaniacs, looking at EUR/USD I can see a possible long-scenario in order to continue the trend. Technicals: The previous fakeout by DXY caused a sell-off in EUR/USD which instantly stopped by the retest of the current two trendlines and key-support-zone. Currently we can see a Flat-Type-Correction which is very typical for the 4th-Wave of an entire Impulse. As you can see in the D1-Chart: The market is currently in an uptrend and kinda consolidated ahead the NFP`s. With the previous fakeout to the downside (SL-FISHING) and the retest of the trendline and the support we might see more BULLISH CONFLUENCE as buyers got liquidated during the NFP`s. The result has been a double-botton which is giving us another evidence for a move upwards. A 5th wave is very likely at least according to E.W. Fundamentals: The previous NFP-Data were overall bearish for DXY as the positive Figures were a confirmation for the current low monetary policy of the FED. The market will probably price in more liquidity for the market and so more inflation in the USA which will probably boost EUR as it has a weight of 57,5% in the US-DOLLAR-BASKET. IMPORTANT: The European Central Bank has its monetary policy meeting this week! LEAVE A LIKE AND A COMMENT - I appreciate every support! =) Peace and good trades Irasor Wanna see more? Don`t forget to follow me. Any questions? PM me. :-)
Long
by Trading2ez
2
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....
by sharing_is_caring
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...
by sharing_is_caring
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...
by sharing_is_caring
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...
by sharing_is_caring
EURUSD testing major resistance, remain bearishSell below 1.1264. Stop loss at 1.1301. Take profit at 1.1159. Reason for the trading strategy (technically): Price has reached our selling area and is testing that level. We remain bearish below major resistance at 1.1264 (Fibonacci extension, horizontal swing high resistance) for a further drop towards 1.1159 support (Fibonacci retracement, horizontal overlap support). Stochastic (55,5,3) is seeing major resistance below the 95% level.
Short
by MEX_Exchange
EURUSD approaching profit target, remain bullishBuy above 1.0600. Stop loss at 1.0562. Take profit at 1.0704. Reason for the trading strategy (technically): Price has started to bounce really nicely and is approaching our profit target. We remain bullish above 1.0600 support (Fibonacci retracement, horizontal swing low support, ascending support) for a further push up to 1.0704 resistance (Fibonacci retracement, Fibonacci extension, horizontal overlap resistance). Stochastic (55,5,3) still has good upside potential for its corresponding rise. To read about the daily technical analysis strategies in more detail, you can check them out here : www.theforexarmy.com
Long
by theforexarmy
EURUSD turn bearish with break of our long term supportSell below 1.0711. Stop loss at 1.0758. Take profit at 1.0623. Reason for the trading strategy (technically): With the break of our long term ascending support-turned-resistance line, we turn bearish below 1.0711 resistance (Fibonacci retracement, horizontal overlap resistance, pullback resistance) for a drop to at least 1.0623 (Fibonacci retracement, recent swing low support). Stochastic (55,5,3) has made a bearish exit signalling a further drop is expected.
Short
by theforexarmy