Forex Market Analysis – Price ACTION formed (DAILY)
EURUSD exhausted following a rally towards weekly resistance, fibonacci retracements ar targets one & two at 500th and 61.8%. price action making a bearish picture as mutliple doji’s have formed, along with the stochastics shifting down in divergence from overbought, this confirms my short position.
In Other view point – EURUSD 1H Scalping
I think EU will go up in short term. It makes a Flag formation and if it breaks the flag down target will be 1.0650 but if it break the red line i’ll buy and my target is 1.0775 / 1.0820. i am not trading whereas i see any break.
In Another View Point – EURUSD bearish CYPHER SETUP – 1.0766
On the EUR.USD 15min chart we’ve a possible short chance at the D leg completion of bearish Cypher setup. the price reversal zone on this pair is between 1.0766 & 1.0784 The PRZ zone is only a guideline of where we’ll be paying attention for trade setups and opportunity’s. Potential targets for the Cypher setup placed at the .382% and .618% retracement of the C to D move. there’s also chance to seem for extended targets at around 1.0708 Stop loss would be placed above X leg structure resistance. Target one – 1.0740 Target two – 1.0724
In Another View Point – Long first then Short
Currently wave: Wave four retracement (Expanded Flat) Next wave: Completion of wave four at either 500th or 618% retracement – also gap to be closed around 1.08426 as marked. Forecast wave: Wave five short to probably create a new 12 year low at 1.0460