A long term perspective of the Market, EURUSD

The above graph take as an impulsive wave XA, and based on August month pin close, and left sructure of price, raise conditions for a potential bullish harmonic pattern as we show. This will allow the completion of right shoulder of Week H&S (around point C - 1,209), and from there to 1,05s, where it will begin a strong up move, that can mean the reverseal of long-term downtrend, or not. Notice that all the development of the pattern is confined to the long term down channel. So for now we will be in TR 1,13 - 1,1850. Break on the upside can lead us to 1,20. If we see a close below 1,13 on week basis, before 1,20, i will consider this view invalidated.

There are several consolidations patterns we can consider inside this BIG ONE, both bullish and bearish. I will share some of them if this makes sense to you.

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