EURUSD is at a critical juncture and within the upside resistance zone 11820-11840
where ab=cd @ 162% 11835 and actually price tagged 11846, exceeded my analysis by 1pip thereafter went into consolidation.
Since the ab=cd move is completed and now everyone will be looking to short around these levels then they could be in for a shock as
the move from 11688 could be a 5 wave affair and make a double top 11909 or slightly higher 11920 (+/-15 pips) or even exceed this zone to 11895-12100(+/-15 pips)
There is 1 more upside resistance zone 11860-11890 which could cap the consolidation unless break of lower support
between 11810-11800, 11780-11760 & 11730 is breached then lower price zones still valid:
11638 +/-(15pips), 11586 +/-(15pips) or 11527+/-(15pips)
Break above 11860-11890 will then aim for the upside price zone at 12100.
Caution is warranted and expect the unexpected as it will be a ride on the wild side.
where ab=cd @ 162% 11835 and actually price tagged 11846, exceeded my analysis by 1pip thereafter went into consolidation.
Since the ab=cd move is completed and now everyone will be looking to short around these levels then they could be in for a shock as
the move from 11688 could be a 5 wave affair and make a double top 11909 or slightly higher 11920 (+/-15 pips) or even exceed this zone to 11895-12100(+/-15 pips)
There is 1 more upside resistance zone 11860-11890 which could cap the consolidation unless break of lower support
between 11810-11800, 11780-11760 & 11730 is breached then lower price zones still valid:
11638 +/-(15pips), 11586 +/-(15pips) or 11527+/-(15pips)
Break above 11860-11890 will then aim for the upside price zone at 12100.
Caution is warranted and expect the unexpected as it will be a ride on the wild side.
