Price Eyeing Monthly S1. Different Scenarios Analyzed

FX:EURUSD   欧元/美元
93 0
Price keeps moving in a clean fashion, making trading favourable.
Last week price did reach the 61,8 fib retracement of the recent leg
up (to the Yearly Pivot Point ). The bounce was sharp but still price
just touched the Weekly Pivot Point (pip to pip again) just to return
back down, crawling along the Kumo Cloud.
This week price has bounced off the Weekly Pivot Point at 1.0602,
again with a clean touch. The bounce was short and intra day pivots
acted resistance after which price started moving down in an accelerating
fashion and today it reached the Weekly S1 just above previous low.

Chances are good that price will continue down. First target is the Monthly S1
at 1.0487 which is in perfect confluence with the 61,8 Fib of the CD leg.
Level highlighted with green.

The completion of the ABCD pattern stands right above the major swing
low/Multi Year low (1.0334) from Jan 3, 2017. at 1,0370. Considering that
price was strongly rejected by the Yearly Pivot Point , it is natural to see
a move towards the Yearly S1 which stands at 1.0050. Older swing lows
are marked with a blue spotted line below the currrent low.

Bearish negation: Price entering the Kumo Cloud H4 tf (first signal); a taking
out of the C level of the ABCD pattern thus invalidating the pattern; a break
above the Kumo Cloud (H4). However, the ABCD pattern is triggered once the
B level is breached, which has not happened yet.

Note on the Daily time frame price just bounced off the lower Kumo Cloud.
A Daily close above 1.0560 may hint another deeper retracement. A close
below the Cloud on Daily tf will not produce a valid Ichimoku Sell Signal
(Kumo Breakout Signal) since the projected Kumo Cloud is Bullish . Also a
right Shoulder may be forming in a Head and Shoulds pattern, but it is premature
to speculate about it, since the pattern is only formed after a completion of
the right shoulder with a proper neckline. In my view, once the ABCD pattern
is invalidated, chances increase strongly that a H & S pattern will be formed
(or a Butterfly Sell if the A level is taken out and price breaking above the
Yearly Pivot Point .
ZH 简体中文
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 繁體中文
AR العربية
HE עברית
首页 股票筛选器 外汇筛选器 加密货币筛选器 财经日历 如何运作 图表功能 网站规则 版主 网站 & 经纪商解决方案 插件 图表库 功能请求 博客 & 新闻 常见问题 帮助 & 维基 Twitter
概述 个人资料设置 账号和账单 我的客服工单 联系支持 已发表观点 粉丝 正在关注 私人消息 聊天 退出