Hello everybody,
its again time for the weekly checkup!
There is a small potential for wave 4 (in green) to be not just finished. Maybe wave (v) in red is just (iii) and we will see a push higher.
If we break below the previous low (wave (iv)) we should see EURUSD fall like a stone.
Lets take a look closer to the hourly charts. I have two possible scenarios where we would see a push higer.
The first one is the idea of an ending diagonal. We have seen another ending diagonal in wave (3) (in green) before.
The other scenario is this of an running triangle where wave B runs higher than wave (3) (in green).
Now to complete this idea lets take a look at the DXY. There we have a breakout of the trendline and a divergence in MACD, which would stand for lower prices in EURUSD.
Fundamentals:
After we had some really bad economic news in the US the FED seems to be unsure about the change in bank rates which disappoints many people.
its again time for the weekly checkup!
There is a small potential for wave 4 (in green) to be not just finished. Maybe wave (v) in red is just (iii) and we will see a push higher.
If we break below the previous low (wave (iv)) we should see EURUSD fall like a stone.
Lets take a look closer to the hourly charts. I have two possible scenarios where we would see a push higer.
The first one is the idea of an ending diagonal. We have seen another ending diagonal in wave (3) (in green) before.
The other scenario is this of an running triangle where wave B runs higher than wave (3) (in green).
Now to complete this idea lets take a look at the DXY. There we have a breakout of the trendline and a divergence in MACD, which would stand for lower prices in EURUSD.
Fundamentals:
After we had some really bad economic news in the US the FED seems to be unsure about the change in bank rates which disappoints many people.
