Jump to content

EURUSD Retrace rally then big drop


Recommended Posts

See how in the uptrend the price was clearly above the pertinent MAs.  (Then you take a position.)  When it transitions back and below the MAs then the trend is changing.  But if it goes back above the MAs then the trend is resuming.  :)

EUR_USD_20200311_12_30.thumb.png.077d51193bc65305349d85182d9c9bde.png

Link to comment

Two scenarios that could play out here... 

(1) the price goes straight through the 10820 level which was retested today and head for gap fill ; or

(2) the price rebounds to retest the 110 area before coming back down to have another go at 10820 before breaking down to fill the gap. 

Demand for USD is still high and is likely to remain that way capping any upside in EUR/USD for now..

image.png.1cbd84f526058d354679e91c95d6903c.png

 

Link to comment
3 minutes ago, dmedin said:

Isn't that always the case?  The price may go up - or it may go down.

No I think you misunderstood, in both scenarios I ultimately think the price is going down but it was whether we got a brief bounce first or we went straight down. We got a bounce in Feb around that 10820 level before ultimately crashing lower..

  • Like 1
Link to comment

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now

  • image.png

  • Posts

    • XRPUSD Day Crypto Chart XRPUSD Elliott Wave Technical Analysis Function: Counter Trend Mode: Corrective Structure: Triangle Position: Wave E Direction Next higher Degrees: wave 4 of Impulse Wave Cancel invalid level: 0.486 Details: the Moved in Triangle Before Increase again. XRPUSD H2 Crypto Chart XRPUSD Elliott Wave Technical Analysis Function: Follow Trend Mode: Motive Structure: Impulse Position: Wave 4 Direction Next higher Degrees: wave C of Zigzag Wave Cancel invalid level: Details: A short-term pullback in wave 4 before falling again in wave 5.     Technical Analyst : Kittiampon Somboonsod Source : Tradinglounge.com get trial here!  
    • ASX: NORTHERN STAR RESOURCES LTD – NST Elliott Elliott Wave Technical Analysis TradingLounge (1D Chart)   Greetings, Our Elliott Wave analysis today updates the Australian Stock Exchange (ASX) with NORTHERN STAR RESOURCES LTD – NST. Our recently updated forecast for NST in the Top 50 ASX Stocks service is still active. We have identified a bullish opportunity with NST, setting up wave (iii)-purple of wave ((iii))-blue that could push much higher.     ASX: NORTHERN STAR RESOURCES LTD – NST Elliott Wave Technical Analysis   ASX: NORTHERN STAR RESOURCES LTD – NST 1D Chart (Semilog Scale) Analysis Function: Major trend (Intermediate degree, blue) Mode: Motive Structure: Impulse Position: Wave (iii)-purple of Wave ((iii))-green of Wave 3-red of Wave (3)-blue Recent analysis: Accurate forecast Details: The detailed short-term outlook shows that wave (3)-blue is unfolding, subdividing into waves 1 and 2-red, which have completed, and wave 3-red is currently unfolding to push higher. At a smaller degree, wave (iii)-purple is opening to push even higher, targeting an immediate objective around 16.30, while maintaining a price above 14.19 is an advantage and strong support for this bullish outlook. Invalidation point: 13.40        ASX: NORTHERN STAR RESOURCES LTD – NST Elliott Wave Technical Analysis TradingLounge (4-Hour Chart)   ASX: NORTHERN STAR RESOURCES LTD – NST Elliott Wave Technical Analysis ASX: NORTHERN STAR RESOURCES LTD – NST 4-Hour Chart Analysis   Function: Major trend (Minute degree, green) Mode: Motive Structure: Impulse Position: Wave (iii)-purple of Wave ((iii))-green   Details: The shorter-term outlook indicates that the (iii)-purple wave seems to be unfolding to push higher. It is subdividing into the i-blue and ii-blue waves, with the ii-blue wave potentially just completed. The iii-blue wave might be ready to push higher as long as the price remains above the support level at 14.19, which would be advantageous for this perspective. Invalidation point: 13.40         Conclusion:   Our analysis, forecast of contextual trends, and short-term outlook for ASX: NORTHERN STAR RESOURCES LTD – NST aim to provide readers with insights into the current market trends and how to capitalize on them effectively. We offer specific price points that act as validation or invalidation signals for our wave count, enhancing the confidence in our perspective. By combining these factors, we strive to offer readers the most objective and professional perspective on market trends.   Technical Analyst: Hua (Shane) Cuong, CEWA-M (Master’s Designation).
×
×
  • Create New...
us