EUR/USD potential path in 2018
Last year, I post it in TW version. Now, EUR/USD break the downtrend tunnel , which prove I am right: still bullish in 2018. Why and How?
EUR is more likely testing support 1 before it break resistance 1. It's also test the old downtrend tunnel.
*If we observe weekly chart, we could a tunnel from 2015-2017, EUR/USD broke it and test it successfully! Using the weight of tunnel as the target of EUR in 2018, it could be around 1.3000. However it think it's a long-term target in the next two years
*1.2400 will be a very important price level in 2018. The downtrend line from 2008-2010 will challenge EUR trend. Also it's the bottom line of a big triangle.
*What's more, view it through harmonic pattern, if price reach 1.2400, it could form a butterfly pattern! B is 78.6% of XA, D could be 1.272 times of XA. Hence, 1.2400 should be on your screen
*usdollar already formed a head and shoulder pattern. Not a good future for it
Let's wait and see in 2018
good luck!
EUR is more likely testing support 1 before it break resistance 1. It's also test the old downtrend tunnel.
*If we observe weekly chart, we could a tunnel from 2015-2017, EUR/USD broke it and test it successfully! Using the weight of tunnel as the target of EUR in 2018, it could be around 1.3000. However it think it's a long-term target in the next two years
*1.2400 will be a very important price level in 2018. The downtrend line from 2008-2010 will challenge EUR trend. Also it's the bottom line of a big triangle.
*What's more, view it through harmonic pattern, if price reach 1.2400, it could form a butterfly pattern! B is 78.6% of XA, D could be 1.272 times of XA. Hence, 1.2400 should be on your screen
*usdollar already formed a head and shoulder pattern. Not a good future for it
Let's wait and see in 2018
good luck!
Note
weekly chartNote
harmonic patternNote
USDOLLAR
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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.