EURUSD - Historical downtrend starting (Euro crash)

Jul 26

Is it time to sell all your EUR and convert it into USD? My chart says that this is a good idea because I expect a 20% crash on this pair. In this analysis, I will tell you why, and I will also analyze the DXY Index on the monthly scale. If you are an intraday / swing trader on forex, you have to know what the major trend is. Are we in an uptrend or a downtrend? This is seriously the number 1 question you should ask before entering a trade because you always want to trade with the trend to increase the probability of success.

The EURUSD pair is forming a clear symmetrical triangle, and this means soon we will see a very strong move either up or down. I have many reasons to say that big players want the euro to go down, mostly to increase their profits. All of the reasons are in my previous EURUSD, you can find this analysis in the related section down below! Now let's focus on the current price action.

From the Elliott Wave perspective, we have a structure called nest (1, 2, 1, 2), which is usually part of every symmetrical triangle that occurs at the top of a trend. Symmetrical triangles usually occur as wave (4) - continuation pattern and also as a reversal pattern (start of the trend). In this case we have a reversal pattern, so it is definitely the best time to enter a short position on EURUSD. 

I see 3 strong levels on the way down, and I marked them on the chart. You definitely want to take profit on these levels and then wait for a pullback to enter a short position again.

Now let's take a look at the DXY index. This index has been in an uptrend since 2008, the big financial crisis. There is no sign of weakness whatsoever, as the uptrend is 100% valid and the price is inside this huge ascending channel. Definitely trend is your friend until the end, and this trend is 100% valid. I expect a liquidity sweep above the 2001 swing high.


Let me know what you think about my analysis in the comment section, and please hit boost and follow for more ideas. Trading is not hard if you have a good coach! Thank you, and I wish you successful trades.

Jul 26

Trade active

EURUSD is overbought on all time frames, so it's the best time to enter a short position, right now.

Jul 26

Note

Seriously, I think this is the last push for USD. After we reach the 121 level on the DXY index, I think we will see a strong euro again.

Jul 27

Note

A lot of people are thinking about the 2024 presidential vote. Does it matter if Trump wins or Biden? No, they are both cabal, and Trump is controlled opposition. The same is Democrat vs. Republican. It gives people only false hope that something will change. The Trump assassination's is a huge fake and theater on people. Trump is not what you think it is, and it's the same as Biden. It feels embarrassing to them.

Jul 27

Note

Expect all forex pairs vs USD to go down pretty much.

Jul 28

Note

GBPUSD: strong trendline (2014 - 2024). Expect a crash on this pair as well!

Jul 29

Note

The crash started! I hope you are already in a short position.