EURUSD continues its downward trend.

OANDA:EURUSD   Euro / U.S. Dollar
EURUSD continues its downward trend. I intend the current findings as a continuation of my analysis. The previous analysis seems to have worked accurately. It was based on wave sequence and fractal theory. I would basically continue to rely on this. My assumption is that EURUSD will produce two almost identical wave movements. The basis for this statement is the underlying ATR changes. I will refrain from publishing a longer calculation, from the changes in the ATR data it can be concluded that an accumulation range is currently being built. This is indicated by the yellow square. It can be seen that the changes in the underlying ATR parameters of the two yellow squares are exactly similar. I therefore assume that the wave sequence being built up in the accumulation region will also be of similar size. From this I conclude that a similar decreasing size wave sequence will emerge from the accumulation band (red lines). The two accumulating wave sequences(yellow squares ) and the corresponding downward breaking downward breaking downward wave sequence(red lines) can now form a 1:1 fractal . In case the theory comes true, further significant EURUSD downward movement is expected. Target price : 1.14772


Hi dear, please determine the SL, thanks bro
+1 Reply
😂 Nice one! I guess it also depends on who can do more QE: Europe or the USA. The DXY (almost inverse of EURUSD) is looking fragile at this time after an initial pump north over the last 2 weeks. If DXY goes south EURUSD will come under bullish pressure. But life is not that simple.
hey meszaros. are you expecting any bounce to the upside to any resistance before the drop?
i sold from 1.2200
finally the man is back