As you can see the level at 1.20000 is a really important level, the price tested it many time over the years, even in 2005. In eliott waves now its doing it's 4th wave which
means it will be the last downtrend in this trending market. The price will go up.
means it will be the last downtrend in this trending market. The price will go up.
Note
At 4hr timeframe it also shows uptrend:Note
The analysis turned out to be false since USD became stronger over EUR sadly
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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.