Elliot waves, EMA deathcross and bearish trend points to the conclusion a test of lower support will get challenged in the upcoming week. Wait for clear indication of trend reversal.
Fisher transformation indicates a reversal is about to happen, and in accordance with previous time periods, fisher signal indicates a price increase is more likely than a decline, given monthly daily price ranges. We have the support lines, to indicate the general movement of the EUR/USD.
We can not be sure when the reversal will occur. If you plan to enter long for a monthly basis, then you should buy according to the fisher signal, however, if your outlook is on weekly, daily or intraday, rather wait for further confirmation: daily, 4H or lower TF candles.
Below, you'll find EURUSD long term perspective (trend channel), DXY (trend channel). EURUSD 4H weighted average price .
EDIT: Typo in text. Fisher transformation is based on : 30, and not 50. It's based on the previous 30 days and not 50 days.
Fisher transformation indicates a reversal is about to happen, and in accordance with previous time periods, fisher signal indicates a price increase is more likely than a decline, given monthly daily price ranges. We have the support lines, to indicate the general movement of the EUR/USD.
We can not be sure when the reversal will occur. If you plan to enter long for a monthly basis, then you should buy according to the fisher signal, however, if your outlook is on weekly, daily or intraday, rather wait for further confirmation: daily, 4H or lower TF candles.
Below, you'll find EURUSD long term perspective (trend channel), DXY (trend channel). EURUSD 4H weighted average price .
EDIT: Typo in text. Fisher transformation is based on : 30, and not 50. It's based on the previous 30 days and not 50 days.
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