EUR/USD is trading withing a Complex Corrective ABCDE structure and preparing to finalize the Corrective 4th Wave Cycle.
Primary Wave D was formed out of a Complex Corrective WXY Structure which points out to the fact that the final Wave E within this correction should be limited as per the trend-line and Channel.
According to the Bullish Divergence shown, Wave E might form a Head and Shoulders formation towards the end of Intermediate Wave Y.
Key Levels to watch for this set-up - 1.0825
Short-term Levels - BUY
1.0500 & 1.0400
Long-term Levels - SELL
1.1100 & 1.1300
Primary Wave D was formed out of a Complex Corrective WXY Structure which points out to the fact that the final Wave E within this correction should be limited as per the trend-line and Channel.
According to the Bullish Divergence shown, Wave E might form a Head and Shoulders formation towards the end of Intermediate Wave Y.
Key Levels to watch for this set-up - 1.0825
Short-term Levels - BUY
1.0500 & 1.0400
Long-term Levels - SELL
1.1100 & 1.1300
Note
getting thereNote
we are very near to the Trend-Line ResistanceNote
Note
Preparing the Major SELL:
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.