stanchiam

stanchiam

although still bullish, bulls need to bring price back above 1.07 to prove they are in control, below that level, it can test 1.055

stanchiam

This is the second attempt to break below the breakout cum support line, however bulls manage to hold price above, the war between bulls and bears is still on going and a clear winner should emerge really soon. Personally prefer bullish view as the chaos in the Trump administration should create dollar weaknesses.

stanchiam

As for now, price still bullish, below 1.07 is another story, good luck

stanchiam

From the price action, bulls have clearly shown who is the boss The 62% level hold and now we target higher, maybe way way higher...lol

stanchiam

Bulls need to stay above the breakout level to be in charge, below risk reversal 50 to 61.8 is the level to watch for supporters, good luck

stanchiam

Only a very strong move up confirms this wave count

stanchiam

For now price say bulls in charge, unless price back below 1.065, there is no reason to suggest otherwise, good luck *typo error in label, eurusd bear instead of usd bear

stanchiam Updated 

trump is doing everything in his power to keep to his campaign pledge he has been speaking about usd strong value as too high and probably studying with his advisers in the white house how to proceed with the devaluation to make america competitive do not be shock if there is a sudden drop in usd, although there still "seem" to be a leg up for usd, the other side...

stanchiam

30 Jan 2016 posted that this level is the level to watch if bulls is to take over as seen for now, bears are clearly in charged, a big fall aka wave 3 confirms the view Good luck

stanchiam

Highly possible, please do not rule this ending diagonal scenario out Tons of wavers are still looking for move lower and ignoring this possible view, or perhaps they could not see it? Just be very careful as my DXY suggest post suggest a wave completion and thus bearish, meaning eurusd bullish

stanchiam

Not cast in stone, just a probability, a very strong move down confirm this scenario, too early to tell and could be an even bigger leading diagonal even if it fall, good luck

stanchiam

As we have seen 5 wave up from B, there is a huge probability the move down has started and most still unaware, could it be the trump effect? He mentioned the dollar is too strong, which is true www.cnbc.com If USA is to stay competitive, devaluation is technically a good idea. Not to forget trump want to boost its export, the best way is to devalue usd, lets...

stanchiam

suspect bulls are testing this level, if bears manage to hold it, price will continue lower, break and close above channel is different story

stanchiam

short term if bulls hold the support line, new high is all but confirm good level to long, good luck

stanchiam

perhaps it may never reach but from the formation, the target is clearly 1.0846 region time will tell but it should not fall below 1.065 if price is to hit in time

stanchiam

there is a possibility the entire move on the daily chart is part of a corrective triangle, we need to see an impulsive 5 wave drop to confirm bears have taken over and resuming the downtrend

stanchiam

there is still a possibility that bulls take it to new high if price is able to break 1341 for now, 1330 is strong resistant, bulls need to retake and stay above this level in order to gain control

stanchiam

Huge bearish divergence suggest short term bulls is losing steam and bears to take over. Careful if bullish usd as it might lose steam suddenly, NFP could support this if it is worst than expected.