EURUSD Has Begun Minuette Wave 2
It appears that the euro has begun minuette wave (ii).
It will most likely terminate between the 0.382 and 0.618 Fibonacci levels (1.00789-1.01896, the red box).
For about the past two weeks, stocks, treasuries, the dollar, cryptocurrency, and precious metal commodities have all been highly correlated. The only major markets that seem to be going in independent directions would be energy and agricultural commodities. This tight correlation is probably being led by the stock market. As a result, if this correlation continues and the stock market continues its decline, the euro could end wave (ii) before it reaches the 0.382 Fibonacci level. However, it seems that the stock market is currently either ending or just finished minor wave X. If this is correct, the stock market will continue trending up for a little longer, and it is likely that the euro could hit the 0.618 Fibonacci level, which is the most common for a second wave.
It will most likely terminate between the 0.382 and 0.618 Fibonacci levels (1.00789-1.01896, the red box).
For about the past two weeks, stocks, treasuries, the dollar, cryptocurrency, and precious metal commodities have all been highly correlated. The only major markets that seem to be going in independent directions would be energy and agricultural commodities. This tight correlation is probably being led by the stock market. As a result, if this correlation continues and the stock market continues its decline, the euro could end wave (ii) before it reaches the 0.382 Fibonacci level. However, it seems that the stock market is currently either ending or just finished minor wave X. If this is correct, the stock market will continue trending up for a little longer, and it is likely that the euro could hit the 0.618 Fibonacci level, which is the most common for a second wave.
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.