EURUSD Correcting – Another Fall Ahead?

7 days ago

Today I want to analyze EURUSD(EURUSD) for a 15-minute time frame and whether EURUSD is ready to fall or not.

EURUSD is moving in a Heavy Resistance zone($1.0537-$1.04500). It also moves in the descending channel in the 15-minute time frame.

According to the theory of Elliott waves, it seems that EURUSD has completed its 5 downward waves, and we should wait for corrective waves. I expect corrective waves to end either in a descending channel or eventually at a Resistance zone($1.0493-$1.0480).

I expect EURUSD to attack the Support lines in the coming hours, and if the Support lines break , we should expect a decline to at least 100_SMA(4-hour).

Note: If EURUSD breaks the Resistance line, we can expect more pumps.

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Euro/U.S.Dollar Analyze (EURUSD), 15-minute time frame.

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6 days ago

Trade active

As long as EURUSD has not managed to break the Heavy Resistance zone($1.0537-$1.04500), we can hope for bearish patterns like the Bearish Bat Harmonic Pattern.

If the Heavy Resistance zone($1.0537-$1.04500), we can wait for the EURUSD pump.

4 days ago

Trade closed: target reached

Full Target Done