SergenAytug
Short

EURUSD Potential Gap fill

FX:EURUSD   Euro / U.S. Dollar
EURUSD demonstrating bearish momentum with the price consolidation ( Bullish price becoming more narrow) which represents a weakness in the bulls. We have a channel as seen on the chart with 5 waves complete with the formation of a bearish belt hold formation. 1.100-1.1100 being a key holding area we can expect price to fill the gap which is a 50-61.8% retracement on the 5th impulse; this will also create a RT of the bearish "BlUE" Trendline . We can expect price to pick up bullish momentum around this area and reach 1.1200. However, a break below the channel will confirm the continuation pattern of a rising wedge on a bearish trend which can push price lower. However, our entry for this trade will be executed on PA confirmation, entries will be seeked on the H4 or H1 time frame.

Related Ideas

EN English (UK)
EN English
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out