Good Day Traders !!! On this pair we have a market correcting on the M timeframe as well as the W timeframe. On the daily we can clearly see an overextended "W" pattern being completed and we are ready for an impulse to the upside. The target is the 50% FIB retracement taken on the weekly impulse and that aligns perfectly with the next weekly resistance. From a COT perspective we have a strong Eur overall and we do expect this move to complete the Weekly pattern and the impulse correction continuation that we can see on the Daily timeframe.
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Trade safe !!!
Now if you enjoyed this analysis please like and share, If you have a different opinion you can comment below as I would love to get more insights about this pair.
Trade safe !!!
Trade closed: stop reached