WaveSavvyTrades

EURUSD DOUBLE TOP + WAVE ANALYSIS

Short
OANDA:EURUSD   Euro / Dolar USA
The price of this symbol has made a double top, and has began a move down towards the neck area of the double top. Also the price is moving down in a wave-like fashion which fits elliot wave pattern. Price is currently retracting to form wave 4, and could find resistance at 1.0841 - 1.0853 (0.5 fib and 0.618 fib of wave 2 respectively). If the resistance hold, I expect price to proceed to the neck region (price of 1.0725) and possibly break the neck region to continue downwards to 1.0535 to complete the double top structure.

If you like this analysis give it a like and follow me. YouTube channel will also start running soon where I will go more in dept about wave analysis, fibonacci and chart patterns. Also subscribe to my substack, it will have more useful educational materials each week.

Wyłączenie odpowiedzialności

Informacje i publikacje przygotowane przez TradingView lub jego użytkowników, prezentowane na tej stronie, nie stanowią rekomendacji ani porad handlowych, inwestycyjnych i finansowych i nie powinny być w ten sposób traktowane ani wykorzystywane. Więcej informacji na ten temat znajdziesz w naszym Regulaminie.