We have a big event for ECB later today. Now EURUSD is so confusing to traders, which is really common beofre such a event. Not sellers or buyers want to make a move first before knowing the enemies' move.
Back on this chart, one thing all traders can not ignore is that price is still under the purple trend line. Every time, EU hit back from the neck position. And clearly that a 5-wave ABCDE WAVE is still a possibiltiy to concern. Price could choose uptrend again, making a double top, or drop down deeper before making a different double top. Now its all on ECB.
Less is more!
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check the chart above, EURUSD still has a trend line to challege.
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now EURUSD is testing the support zone. Please ignore the setup information , that has nothing to do with EU.
Do you think it will be possible to get a chance to short it after correction? What would be the start point? 1.167 ?
MarcuDan
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I dont know why traders find this chart confusing, its one of the easiest charts at the moment. I think we`ll have both scenarios. A move to around 1.1950 during the ECB press conference and then the big move down. A lot of traders are going to lose money today.
FUNTRADER-Vera
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@MarcuDan, Thank you for the comments.
Right now, EU is testing the support zone.