Tag - eur

EUR/USD was unable to rise above 1…

The price has come back under 4/8 MM Level, so wave (ii) was likely ended.

There’s a “Double Top”, which has been confirmed. Therefore, the market is going to reach a support at 1.0698 – 1.0688.

Narrowing bearish Ichimoku Cloud with rising Senkou Span A; a golden cross of Tenkan-sen and Kijun-sen, rising Kijun-sen; the prices are breaking out the resistance of SSB; local market is overbought.

The main intraday target is 5/8 MM Level, which could be a departure point for wave (iii).

We’ve got a “Shooting Star’ and a “Three Black Crows”, so the price is likely going to the lower “Window”.

The main trend is still bearish. The price faced a resistance at 1.0739, so there’s a consolidation.

Wave (ii) is about to end. Therefore, if a pullback from 4/8 MM Level happens, there’ll be an opportunity to have an impulse in wave (iii).

The lower “Window” is acting as a support, so there’s a developing “Three Methods” pattern.

The upper side of the last triangle has been broken, so the price reached a resistance at 1.0739.

Narrowing bearish Ichimoku Cloud with rising Senkou Span A; a new golden cross of Tenkan-sen and Kijun-sen; the prices are tested the resistance if upper border of the Cloud.

Wave (ii) has turned out to be deeper. However, the bearish wave count is still on the table.