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Leg (d) of an EW triangle can be in progress and can see resistance around the upper EW triangle line.
On EURUSD we are looking at an EW triangle correction in the making within wave four. A triangle pattern is a five-wave overlapping movement, which usually unfolds prior to the final wave within a bigger trend. In our case we believe this wave will show up to the upside, but of course once wave four fully shows up. That said, at the moment we see price completing wave c) of four which means that new swing can take pair higher, towards the upper side of a range.
KEY LEVELS
SUPPORT RESISTANCE BULL/BEAR LINE
S1: 1.2300 R1: 1.2420 1.2100
S2: 1.2215 R2: 1.2450
S3: 1.2100 R3: 1.2476
it is good to buy non dips around 1.23740-60 with SL around 1.2300 for the TP of 1.2470
On EURUSD we are looking at an EW triangle correction in the making within wave four. A triangle pattern is a five-wave overlapping movement, which usually unfolds prior to the final wave within a bigger trend. In our case we believe this wave will show up to the upside, but of course once wave four fully shows up. That said, at the moment we see price completing wave c) of four which means that new swing can take pair higher, towards the upper side of a range.
KEY LEVELS
SUPPORT RESISTANCE BULL/BEAR LINE
S1: 1.2300 R1: 1.2420 1.2100
S2: 1.2215 R2: 1.2450
S3: 1.2100 R3: 1.2476
it is good to buy non dips around 1.23740-60 with SL around 1.2300 for the TP of 1.2470
