EURUSD only

The double top at 1.1670 left me with the impression it will start depreciating again, but we will see next week.

I prefer the long position to 1.17

Learn something about Corrective Wave Structures.

EU analysis. I see signal that price is likely to visit 1.1618 or lower in the coming week.

Right now i believe we're on way to complete wave 5 of this impulse. For wave 4 we had a regular flat stopping exaclty at 0.9 for wave B and the 1.0 for wave C. The targets for wave 5 are showns with the yellow fibs.

eu to 1.13820 possibly before months end. at least on my chart.


edit. maybe not THAT soon lol.

Yes most likely in play is the count you posted. Yet there is but , that but is most dangerous , reason picture is not clear on H4 TF but you are right on H1 TF

My previous post was solely about my short-term (M15) view for Monday! There I was talking about how I expect bulls to push a little further to reach 1.1700 area.

Now, that being said, I am now sharing my long-term view via the weekly chart below which I already posted once in the near past. Based on this chart, I am talking about how bears could (and even have to) continue to push this lower to complete the missing D leg of a potential butterfly pattern.. In other words I expect price to eventually reach 1.1400 area.. When that would happen is still a mystery!

But, before talking about the butterfly, please focus solely on the week upfront and try to see how 1.1710 area is sort of a MAIN resistance zone! As long as price is below it, I anticipate that bears are not done and that they are looking for a chance to push this lower. But don't rush! Let's go step by step!

Next we have 1.1616 as our weekly MAIN support area! That's why I said: -based on M15, I will watch 1.1625 support area to see if it supports or not- With the weekly in mind, we could extend that support level down to 1.1616 and even 1.1609... (Always be flexible when it comes to daily or weekly levels!). In other words: On Monday, we first have to watch how strong this support actually is!

To summarize: M15 is telling me to stay bullish while price is above 1.1625.. Weekly tells me to stay bullish while price is above 1.1616.. Meaning I will be looking to buy dips.. And last but not least, speaking for the whole week: Bulls are definitely targeting the 1.1700/10 zone. IF we get there, then I will look how that zone resists and if I see bearish signs I will switch to bearish. BUT again: no rush! We must allow bulls to empty their steam and ride along!

I hope it helps.. Happy Sunday to all..

On H4 TF, where the 3 ends on H1 it would be a full 5 waves for wave 1 and now i see some kind of an ending diagonal.

Old School Way

Daily-via-Weekly S/R Levels for Monday

1. As long as support levels protect bulls, we should see a retest towards 1.16666 level
2. Chart speaks for itself.. no detailed comments needed..

Happy new trading week to all

Sell limit @ 1.16498

target @ 1.15300

Buy Limit : 1587 till 1591

Sell : 1662 - 1661, SL 1668

Sold at 1.1661 to 1.1649. SL: 20 pips

I am following the same idea : )

Happy week everyone!
Patience is the key.

God bless shorters