magbrr
Long

CRYSTAL CLARITY FOR THE EURUSD DIRECTION 30/01/2017

FX:EURUSD   Euro / U.S. Dollar
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https://uk.tradingview.com/chart/mLSnaZv...


EURUSD -0.01% is showing very strong signs of a bottom at the 4th of January 2017 low near 1.04156 (blue arrow). It describes a 100% move of wave A projected from B as shown which appears to be a common relationship between waves A and C in corrective zigzags and thus attempts to describe the completion of wave Y within a larger corrective move. This may be significant especially as critical support zone turn resistance (green arrow) has been penetrated. Current price action is merely viewed currently as correction to retest support zone . A 4H candle close above green arrow support zone will bring purple arrow resistance zone into sharp focus and beyond.


On the fundmental side, the current news and attitude from the American leadership is definitely putting a strain on the dollar and its fear has dominated the rise of the EURO -0.01% against the greenback as seen since early January 2017. The reality of latest comments and actions by the American leadership is cause for realistic concern to make investors re-think their investment options. This can put pressure on the US dollar -0.08% especially if this attitude and rhetoric in recent weeks is maintained and argued for. The reality of an unstable economy could not be further exemplified if these fears become actual reality
I just checked your chart and everything is playing out as u charted and analysed.
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