Hello Traders,
as you can see on the 2hour Chart the EURUSD topped at 1.19103 and then declined to 1.18049 in early Tradingsession (US time) tonight. This pattern is clear a five Wave move down and implies a Wave 1/a. It can morph to a ZigZag or even an impulsiv Pattern. From here a countertrend may runs in a Wave 2 with targets around 1.18108 to 1.18340 which is the 0.5 to 0.618 RT of the decline ! More often than not a Wave 2 pattern is formed as a ZigZag.
So we`re prepaired for those `n wait the next hours to see what the Market is telling us.
The USDollarIndex shows the same pattern inverted and increases the probability for a Trendreversal of Multiweek!
More even when the pattern becomes clearer.
Have great week...
rubennase
as you can see on the 2hour Chart the EURUSD topped at 1.19103 and then declined to 1.18049 in early Tradingsession (US time) tonight. This pattern is clear a five Wave move down and implies a Wave 1/a. It can morph to a ZigZag or even an impulsiv Pattern. From here a countertrend may runs in a Wave 2 with targets around 1.18108 to 1.18340 which is the 0.5 to 0.618 RT of the decline ! More often than not a Wave 2 pattern is formed as a ZigZag.
So we`re prepaired for those `n wait the next hours to see what the Market is telling us.
The USDollarIndex shows the same pattern inverted and increases the probability for a Trendreversal of Multiweek!
More even when the pattern becomes clearer.
Have great week...
rubennase