Thanks as ever Sive http://www.forexpeacearmy.com/
link
http://www.forexpeacearmy.com/forex-...17-2014-a.html
eur/usd
Currently market will be watch for two major points. What Yellen will say and whether any consequences will follow after Bullard's hints. Second - earning reports of US companies. If they will confirm positives shifts in US economy, then, market will calm down a bit.
Thus, currently we do not see any solid setups across the board and will take a look at EUR again.
YEsterday we said that EUR could show retracement right to K- http://www.forexpeacearmy.com/forex-...lossarlink.gif support area, but it has not completed intraday AB=CD. Right now it seems that EUR will do both targets. Retracement yesterday has happened and as return back was fast - today probably we will see reaching of upside targets.
Still, currency stands at overbought. That's why upside action will be limited and just slightly could exceed recent highs. Probably some small reversal pattern (may be it will be butterfly as it is shown on hourly chart)
will be formed at top, right around AB=CD completion point:
http://images.forexpeacearmy.com/Wee...d_17_10_14.png
http://images.forexpeacearmy.com/Wee...h_17_10_14.png
http://images.forexpeacearmy.com/Wee...h_17_10_14.png
link
http://www.forexpeacearmy.com/forex-...17-2014-a.html
eur/usd
Currently market will be watch for two major points. What Yellen will say and whether any consequences will follow after Bullard's hints. Second - earning reports of US companies. If they will confirm positives shifts in US economy, then, market will calm down a bit.
Thus, currently we do not see any solid setups across the board and will take a look at EUR again.
YEsterday we said that EUR could show retracement right to K- http://www.forexpeacearmy.com/forex-...lossarlink.gif support area, but it has not completed intraday AB=CD. Right now it seems that EUR will do both targets. Retracement yesterday has happened and as return back was fast - today probably we will see reaching of upside targets.
Still, currency stands at overbought. That's why upside action will be limited and just slightly could exceed recent highs. Probably some small reversal pattern (may be it will be butterfly as it is shown on hourly chart)
will be formed at top, right around AB=CD completion point:
http://images.forexpeacearmy.com/Wee...d_17_10_14.png
http://images.forexpeacearmy.com/Wee...h_17_10_14.png
http://images.forexpeacearmy.com/Wee...h_17_10_14.png
don't predict direction, but dance with flow of water