eu
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eu is at an important level. breakout must be happening, up or down.
i suggest the break to the downside because of the corrective pattern in which it is now. Rather fast move down is likely to be a new motive wave down to 1.07 - 1.05.
Watch the corrective wave for yourself. Wave counting is not brilliant, actually not a 5 wave diagonal, but an 3-3-5 abc move. Thats also a reason for more shorts.
on the other hand: .618 fib retrace of the last upmove (corrective upwave).
It might be a complex corrective pattern, which would be the 'X' now in the structure. I dont believe thats that going to happen, since it will have to break 618 for that, which will react as resistance later.
I hope its clear for u.
question? pm.
i suggest the break to the downside because of the corrective pattern in which it is now. Rather fast move down is likely to be a new motive wave down to 1.07 - 1.05.
Watch the corrective wave for yourself. Wave counting is not brilliant, actually not a 5 wave diagonal, but an 3-3-5 abc move. Thats also a reason for more shorts.
on the other hand: .618 fib retrace of the last upmove (corrective upwave).
It might be a complex corrective pattern, which would be the 'X' now in the structure. I dont believe thats that going to happen, since it will have to break 618 for that, which will react as resistance later.
I hope its clear for u.
question? pm.
Note
watch the price ation now. broke up earlier, now retesting trendline. possible entryNote
very weak support apparently. lets go more down upcoming weeks.
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