EURUSD 5th wave over?
Still in need of a confirmation in turn around of the current dollar trend but strong key levels being tested around this level on EURUSD
Top of near term parallel channel. 5th wave = 1st wave here. RSI divergence on multiple time frames which usually occurs on the 5th wave.
DXY also testing key support areas
30 min chart
Careful of a short squeeze to pop us higher
- 0.5 fib retrace off 2014-2017 decline
- Long term key pivoting level for EURUSD around ~1.215 (June 2010 + July 2012)
Top of near term parallel channel. 5th wave = 1st wave here. RSI divergence on multiple time frames which usually occurs on the 5th wave.
DXY also testing key support areas
30 min chart
Careful of a short squeeze to pop us higher
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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.