Hi traders,
The EURUSD is retesting a broken ascending channel that lined up with 61.8 Fib ratio and moving averages.
.
This pair seems to have completed a three-wave correction that unfolds as a double zigzag pattern after a text-book five-wave impulse in wave (i) "red."
.
If this count is correct, the 5-3 wave cycle is almost complete, and a bearish reversal for the start of wave (iii) of 3 down can be anticipated.
.
Considering that price has broken & retested the blue CTL, and we have bearish rejection candles on both daily & H4 chart, we have valid reasons to sell this pair.
.
What's your view on EURUSD? Let me know in the comment.
Safe Trading!
Veejahbee.
The EURUSD is retesting a broken ascending channel that lined up with 61.8 Fib ratio and moving averages.
.
This pair seems to have completed a three-wave correction that unfolds as a double zigzag pattern after a text-book five-wave impulse in wave (i) "red."
.
If this count is correct, the 5-3 wave cycle is almost complete, and a bearish reversal for the start of wave (iii) of 3 down can be anticipated.
.
Considering that price has broken & retested the blue CTL, and we have bearish rejection candles on both daily & H4 chart, we have valid reasons to sell this pair.
.
What's your view on EURUSD? Let me know in the comment.
Safe Trading!
Veejahbee.