Re: EUR/USD
91EUR/USD has formed a pair of shooting star bars on the H4 time-frame at the last high at 1.1960, so we might see a temporary retracement before the pair continues moving to the upside, as the trend remains very bullish for now.
It could be the begin of the retracement. According to EW-theory the raising recent movement from begin of this year is a Leading Diagonal (LD) and so the wave 1 or A, in both cases a new trend. The question just is how deep will the correction 2 or B dive in. I guess regarding to the long consolidation and its shape and the political theater in the USA and their foreign affairs the 38.2er retracement is most likely.mlawson71 wrote: Wed Aug 30, 2017 10:15 pm There's a pullback from 1.2070, let's see how long it will last. So far there's no indication the overall bullish trend is over.
It really does, but at the same time the pair is still stuck in a tight consolidation. We'll probably have to wait for the fundamentals that week to end it.
Users browsing this forum: No registered users and 26 guests