FXE: Weekly Linear Euro about to turn?
Folks on this site seem to know a lot more about currencies than I do. But here is how the euro looks to me.
In EWT (which I recommend you NEVER use by itself) one form of consolidation in a correction is A,B,C with the B wave a 5 wave triangle a,b,c,d,e. I think that is what we likely have here. Often the C wave is some Fib relationship to A such as C=A, C=.62X A, or C=1.62X C. In this case we are close to the A=C. We have a nice channel. We have a bullish divergence in the RSI/ROC. Have to wait to see how it develops and wait for a price action trigger to see if correct and turns bullish. If interested in playing the bullish reversal there is a 2X ETF: ULE. Have a great weekend. goodguy.
In EWT (which I recommend you NEVER use by itself) one form of consolidation in a correction is A,B,C with the B wave a 5 wave triangle a,b,c,d,e. I think that is what we likely have here. Often the C wave is some Fib relationship to A such as C=A, C=.62X A, or C=1.62X C. In this case we are close to the A=C. We have a nice channel. We have a bullish divergence in the RSI/ROC. Have to wait to see how it develops and wait for a price action trigger to see if correct and turns bullish. If interested in playing the bullish reversal there is a 2X ETF: ULE. Have a great weekend. goodguy.
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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.