Euro / DollaroLong
EUR/USD buy to 0.786 or the 1.272
Technicals
* We have an impulse with a beautiful and obvious ABC correction, which looks like the start to another impulse.
* We have the USDX looking to have a bullish year, and on the weekly we are at a major resistance channel line.
So what do we do from here you are asking?!
* You can clearly see a five wave impulse in wave C so regardless of the longer term out look we cant count on a push up because the 4hr indicators need to reset themselves and no progress is in a straight line.
* So if this is not another impulse we will stop at a retracement level and the purple channel conveniently ends at the 0.786% retracement.
* If this is an impulse i believe the 1.272 projection level to be dependable since we are in for a dramatic bearish trend any week now.
Happy hunting guys.
* We have an impulse with a beautiful and obvious ABC correction, which looks like the start to another impulse.
* We have the USDX looking to have a bullish year, and on the weekly we are at a major resistance channel line.
So what do we do from here you are asking?!
* You can clearly see a five wave impulse in wave C so regardless of the longer term out look we cant count on a push up because the 4hr indicators need to reset themselves and no progress is in a straight line.
* So if this is not another impulse we will stop at a retracement level and the purple channel conveniently ends at the 0.786% retracement.
* If this is an impulse i believe the 1.272 projection level to be dependable since we are in for a dramatic bearish trend any week now.
Happy hunting guys.
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