Hi fellows, we are still bearish on EURUSD for longer term. We are having sideways market. The way last wave is rising does not look like so aggressive which mean we may see strong bearish evidence at any time on current price. For that watch price action on this pair during ECB press conference. During that it can push up slightly but i believe it will remain bearish for longer term. In case we see strong bearish evidence during ECB press conference then will look for strong impulse for short. If you are looking to short every time when price hit the top then thats not a good technique. You should watch price behavior every time when price hit the top and then you should look for sell. We are still having short term bullish trend on lower time frame so be careful. It looks like that price is forming Trend reversal pattern on lower time frame which has not completed yet but soon will complete and once completed we mat see strong rejection. If i will see the strong bearish evidence on lower time frame i will update the chart.
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DXY,
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USDCHF
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DXY
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Watch TCP
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Here we got the TCP ( trend continuation pattern formation ) one more up move is possible fellows or watch strong breakout.
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we are having same formation on DXY but this is bullish fellows.
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Watch another breakout
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Watch for continuation
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we are having bigger TCP. As long as price will stay under the Impulse we are short. In case price break up the top. Then we will look for another Impulse before any sell. Here is the update.
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Watch breakout of the bottom during USA retails sales news event
Sir, I believe that sudden and strong bearish movement should be from the wave theory. Not all the time it is easy to say "when", but it should be started someday. I keep my finger crossing to wave theory. Keep challenge of publishment your idea. I am always checking your update.
Wave-Trader
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@orocz, Thanks for the following mate. It will fall very soon.
orocz
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Thank you for update as usual.
Archaicsiman
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seeing price tested the weekly low and got rejected...Daily weekly still bullish intact
Archaicsiman
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@Archaicsiman, and currently its making bullish flag or reversal channel at H1 , setup for upside
nightfoxFX
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Some new update :)?
Wave-Trader
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@nightfoxFX, I will update the chart mate. We are breaking the high let's wait for some time. Once I will see setup I will update