EURUSD Wave Analysis - No trend change so far!
EURUSD made a pretty impressive move the last two weeks. Price hit the lower channel line and was rejected hard.
RSI extreme low on daily chart was made, but no divergence so far.
In my opinion is the complex and longterm correction of Wave 2 not yet finished.
The correction is a complex WXYXZ combination, also known als Tripple Three.
The second X Wave is typical for an early indication, that the trend will change but is not yet strong enough to really turn the tide.
We have a strong support area between 1.06-1.03
Price should visit this area and we will then get the daily RSI divergence. In combination with strong price action signal we will get our perfect long entry.
For now I am looking for shorts, as we will get at least a big correction of the last 400 pips move.
Give this idea a like if you find it helpful.
This is no investment advice. Just for educational purpose.
RSI extreme low on daily chart was made, but no divergence so far.
In my opinion is the complex and longterm correction of Wave 2 not yet finished.
The correction is a complex WXYXZ combination, also known als Tripple Three.
The second X Wave is typical for an early indication, that the trend will change but is not yet strong enough to really turn the tide.
We have a strong support area between 1.06-1.03
Price should visit this area and we will then get the daily RSI divergence. In combination with strong price action signal we will get our perfect long entry.
For now I am looking for shorts, as we will get at least a big correction of the last 400 pips move.
Give this idea a like if you find it helpful.
This is no investment advice. Just for educational purpose.
