EURUSD
OPEN THOUGHT OF THE DAY:
hey guys i hope everyone had a successful trade week. Here's my analysis of EURUSD based on fib retracements and harmonics. I always advise to never rely on shapes or lines but to ALWAYS RELY ON NUMBERS. your patterns or shapes should always be proven by numbers, what I've realized over the years is that fibonacci sequence numbers always tend to show the truth, DONT just follow your instinct, because therefore you are no different than someone gambling at the casino.
ANYWAYS
EURUSD USD ANALYSIS:
| ABCD pattern + harmonic pattern
AB = 1.75 - 2
CD = .5 - .62 (take profits) |
|Trendline (red line)
- EURUSD has been in a downtrend for the past 2 weeks.
- seems to be testing downwards trendline
- price is at pivot point
Conclusion:
This week we have high impact news that could create lots of volatility, but analysis stays the same AS LONG AS PRICE REMAINS ABOVE FRIDAYS LOW. If price breaks Fridays lows, then a reanalysis will be done considering the new measures.