EURUSD - Trends, Forecasts and Implications (Part 2) - page 221
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to the broker in his pocket)))
I don't see any selling opportunity. All divergences are singing an uptrend. Strong support confirmed on Friday, we have it a hundred pips lower. The news backdrop is in favour of the euro. Today the second impulse wave up has passed the maximum, but it is drawing like the first wave (third according to Elliot). So it will draw the fifth wave difficult at the current level. The upper limit of the channel has not been reached. The wave structure for the impulse wave seems to be incomplete.
If it all means anything, we won't go down far, 50 pips at most. Liar. A hundred pips at most, to support. But in a way that trading down is risky.
I don't see any selling opportunity. All divergences are singing an uptrend. Strong support confirmed on Friday, we have it a hundred pips lower. The news backdrop is in favour of the euro. Today the second impulse wave up has passed the maximum, but it is drawing like the first wave (third according to Elliot). So it will draw the fifth wave difficult at the current level. The upper limit of the channel has not been reached. The wave structure for the impulse wave seems to be incomplete.
If it all means anything, we won't go down far, 50 pips at most. Liar. A hundred pips at most, to support. But in a way that trading down is risky.
It could be so.
On the other hand, this new indicator for the mechanical markup shows that the wave will go down from this level, and it might be impulsive in principle. That is, if it were not for the favorable news background for the Euro, I would enter selling after all.
In general, it is my opinion, either the impulse or the beginning of the correction structure. I think the correction and then the fifth wave is more likely.
On the other hand, this new indicator for the mechanical markup shows that the wave will go down from this level, and it might be impulsive in principle. That is, if it were not for the favourable news background for the euro, I would still enter selling.
I'll hold on to it for now, it's already used anyway.
I think so for now, but we'll see.
I'll hold on to it for now, it's already used anyway.
I think so for now, but we'll see.