EURUSD. Possible ABCD pattern

EURUSD may reach a new action point before the ECB and mark a new leg down to the trendline. Once the FED rate hike is out of the desk, the only strengh for US Dollar should come from the risk-off environment.

Next risky events are the ECB decision and Chinese foreign reserves plus trading balance stats. Looks like some of them will not be risk-favorable...

I will short EURUSD from 1.1270 level, targeting 1.1060. If pattern is confirmed, 1.1060 will be a very good level for entering long-term long positions.

Trade active:

Short order active

Trade closed manually:

Short order closed at breakeven but the pattern has not been invalidated

Order cancelled:

Now invalidated

Trade active:

Incredible but the pattern had finally survided. Looking to secure 1.1230 level to short. At least 4H candle has to close below 1.1230

Trade active:

Shorting the pair now and will add shorts from 1.1290 if price gets there

Comment:

Rejected by 38.2% once again, adding shorts at 1.1261

Comment:

Two thirds done, last meters are always the most difficult ones...

Trade closed manually:

Last meters failed... Closing shorts