EURUSD which way to take? Up or Down?
Regards, if you are watching this analysis, do not comment too. Sorry for the bad syntax, English is with Google Traslator.
My trading is based on the function of economic cycles, a cycle for me, is broken down into: (I) Acumulation Phase, (II) Bullish Trend Phase, (III) Distribution Phase and (IV) a Bass Trend Phase .
In the same sense, this pair for me, is at a crossroads, as we can see we have a bullish dynamic range of greater degree that was already broken, this range could comprise a phase of accumulation of greater degree, this means that it could To come a Bullish Trend Phase for the EURUSD in the long run, as long as we are correct, however we also have in the extreme another rank, but to a lesser degree it could be a Distribution phase of a lower grade cycle, So that could lead to a downward trend to correct the upward movement of the last weeks and then continue the long-term bullish movement. That is why I say, that at this moment this pair is at a crossroads, since it can simply take as support the upper parallel of the rank of greater degree and turn with great force to look for new maximos, or, could break that parallel to correct The previous bullish movement looking for the price level 1.0800; We can not predict the behavior of the price, only the (price) will tell us which direction we should take.
In either case, wait until the market tells us which direction to take, remember, there is always a new opportunity to enter the market with the lowest risk possible, and before doubts it is better to stay away.
Happy Trading!
My trading is based on the function of economic cycles, a cycle for me, is broken down into: (I) Acumulation Phase, (II) Bullish Trend Phase, (III) Distribution Phase and (IV) a Bass Trend Phase .
In the same sense, this pair for me, is at a crossroads, as we can see we have a bullish dynamic range of greater degree that was already broken, this range could comprise a phase of accumulation of greater degree, this means that it could To come a Bullish Trend Phase for the EURUSD in the long run, as long as we are correct, however we also have in the extreme another rank, but to a lesser degree it could be a Distribution phase of a lower grade cycle, So that could lead to a downward trend to correct the upward movement of the last weeks and then continue the long-term bullish movement. That is why I say, that at this moment this pair is at a crossroads, since it can simply take as support the upper parallel of the rank of greater degree and turn with great force to look for new maximos, or, could break that parallel to correct The previous bullish movement looking for the price level 1.0800; We can not predict the behavior of the price, only the (price) will tell us which direction we should take.
In either case, wait until the market tells us which direction to take, remember, there is always a new opportunity to enter the market with the lowest risk possible, and before doubts it is better to stay away.
Happy Trading!
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.