Euro has been trading ranged for 7 months and it will last for more could be years should be forming an expanded triangle. So I revisited my back files to pull out 11 harmonic patterns. Let’s see what’s gonna happen today.
DO NOT LONG!!! UNTILL 1.03-1.04 reached.
DO NOT LONG!!! UNTILL 1.03-1.04 reached.
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Almost there, keep alert!
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Yellow is a SHARK pattern, green is a crab, and after a shark would be a 50-O pattern. Then let's see FED will rise rates or not (I guess not untill March 2016 or June 2016 maybe later ) After NFP and BOE this one crossed trend line shoud reach 1.04 area.
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I've learned 11 patterns before but I just learned a cluster pattern from SignalSwiss, that yellow pattern could be a cluster. Because time is lasting too long to reach 1.03 if this pair is holding, and the fork channel is rising so a cluster is more likely than a shark. A spike low still could flush out that 1.618 area. From fundamental analysis, I think ECB could cancel negative rates and could buy more assets include municipal bonds for investing financal support to upgrade city infrastructure.
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A 50-O is happening.
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Case closure.
Merry Christmas and happy new year!
Merry Christmas and happy new year!