Possible uptrend coming up for EUR/USD in 4 hour chart
Most likely EUR/USD will pull back to wave E in the triangle (I'm not 100% sure if my wave counting is right)
As of right now price is going down, getting closer to the triangle bottom resistance level (Wave D). Most likely price will bounce back to support level on the Triangle (Wave E). RSI and Stochastic indicators are showing divergence on 1 hour chart, which indicates a possible change of direction in the price.
the bottom line is market is trading in a series of waves A,B,C,D,E or even more F,GJ..For now i would go Long on Eur/USD until a break out in the resistance level occurs.
As of right now price is going down, getting closer to the triangle bottom resistance level (Wave D). Most likely price will bounce back to support level on the Triangle (Wave E). RSI and Stochastic indicators are showing divergence on 1 hour chart, which indicates a possible change of direction in the price.
the bottom line is market is trading in a series of waves A,B,C,D,E or even more F,GJ..For now i would go Long on Eur/USD until a break out in the resistance level occurs.
Trade closed: target reached
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