In my previous EURUSD forecast, I expected wave "4" to be completed and the price to start developing wave "5". However, the market has not confirmed this scenario yet.
EURUSD continues to consolidate between approximately 1.13690 and the 1.14725-1.14816 resistance area. The price has remained inside this range for quite some time and has not managed to break either boundary with confidence.
To be honest, the current structure does not look like a typical wave "4". Still, it is too early to change the wave count. As long as the price remains inside the range, identifying its internal wave structure with confidence is almost impossible.
Price action within the corridor still looks slightly bearish to me. For this reason, I am keeping the current wave count and continue to expect wave "5" to develop lower.
The nearest target is the wave "3" low around the 1.13249 support area. This is the first strong level the price may revisit after leaving the current consolidation.
One more test of the 1.14725-1.14816 resistance area is still possible before the decline. As long as the price does not break and hold above this zone, I continue to watch for short positions.
EURUSD may see increased volatility around today’s ECB decision. Expectations of further ECB tightening are supporting the euro, while elevated U.S. Treasury yields and safe-haven demand are helping the dollar. The fundamental signals are therefore not fully aligned, making the eventual breakout from the range especially important.
Manage your capital properly and wisely! Enter trades only based on reliable patterns!
EURUSD continues to consolidate between approximately 1.13690 and the 1.14725-1.14816 resistance area. The price has remained inside this range for quite some time and has not managed to break either boundary with confidence.
To be honest, the current structure does not look like a typical wave "4". Still, it is too early to change the wave count. As long as the price remains inside the range, identifying its internal wave structure with confidence is almost impossible.
Price action within the corridor still looks slightly bearish to me. For this reason, I am keeping the current wave count and continue to expect wave "5" to develop lower.
The nearest target is the wave "3" low around the 1.13249 support area. This is the first strong level the price may revisit after leaving the current consolidation.
One more test of the 1.14725-1.14816 resistance area is still possible before the decline. As long as the price does not break and hold above this zone, I continue to watch for short positions.
EURUSD may see increased volatility around today’s ECB decision. Expectations of further ECB tightening are supporting the euro, while elevated U.S. Treasury yields and safe-haven demand are helping the dollar. The fundamental signals are therefore not fully aligned, making the eventual breakout from the range especially important.
Manage your capital properly and wisely! Enter trades only based on reliable patterns!
Transaction en cours
The price has reached the halfway point, and I believe the downward trend will continue this week.I recommend to set trade to breakeven.
(Breakeven=Risk Free: Move Stop loss to the entry level).
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🟢 Contact: t.me/Hellena_FX
🌅 INSTAGRAM: instagram.com/hellena_trader
🟢 Contact: t.me/Hellena_FX
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Clause de non-responsabilité
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✅ Free TELEGRAM channel: t.me/HellenaSignals
🌅 INSTAGRAM: instagram.com/hellena_trader
🟢 Contact: t.me/Hellena_FX
🌅 INSTAGRAM: instagram.com/hellena_trader
🟢 Contact: t.me/Hellena_FX
Publications connexes
Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.