The probablities of missing a shor or long trade are almost infinite. Buy or Sell, you have winning trades at this level ... just as long as you can hold on to your margin.
If the EUR 1H chart got you happy with multiple bull, bear, or simple trending.... pay attention to the 4H chart which paints a whole different picture ... of course this is to be taken lightly as there is no accurate forecasting model around.
Three AB=CD patterns are visible, and they all have different outcomes. Whether bull or bear, there is something for everyone in this upcoming market. Trade on traders!
Long term shorting opportunity for the EUR.. if these forex technical tools are accurate.
Watch out take profiter's and stop losser's... we are going into what astrologists would say a dense pocket of space... believe it acknowledge, or recognize that this exists. If not you might be doomed to a very nasty experience in the Forex world... selling low and buying high. You learn to sell high and buy low... it is not intuitive. Learn, learn, learn.
If history serves in any way, this H4 charts prediction shows us playing this field for a few days... happy scalping.
EUR has been placed in a falling wedge. It would take a miracle for it to break out of this pattern given the time frame which this analysis is being done on.
As with long time frames -- SHORT might not mean there are no long opportunities. Harmonic pattern AB=CD seems to appear for the long term D1 EUR as the end of the down movement. Very hypothetical and not a true analysis, although there are plenty of sites that show the EUR heading to the 1.2x region -- in this case 1.24 would finish the pattern.
Hard to predict EUR movement in short timeframes, but in general the higher the time frame the less "noise" is reflected. Whether we want to acknowledge it or not the EUR is going down for the summer for many reasons above and beyond the scope of this article. As summer ends, in September of 2013, the EUR will head to higher ground and repeat this cycle until it...
A prediction based on past historical performance. Possible scenario.
If you look at the individual parts in Red, Green, Blue -- RGB you will notice a trend... It starts LOW, than goes HIGH... to finally end LOW. Where do you think we are going from now?
Shorting here for the purpose of proving a basic TRIX logic.... too high is just too high!