Long Term EU is bullish. EU is currently completing its corrective structure before starting the next wave up.
There is a strong key level between 1.96-1.99 which I forecast will be retested before starting its last descent. This area is also the area coinciding with the bearish structure.
The next descent will come down to 1.82-1.84 (between .5 & .618 fib) and reject from the HTF channel, creating the H&S pattern and starting the next wave up.
As this is the start of the next wave on the daily time frame, I am targeting a move that will break the previous highs and extend as high as the 2018 resistance zone.
This could potentially provide two trading opportunities. The first downward move, as well as the following huge upward move.
Let me know your thoughts.
Trade Safe!
HEET
There is a strong key level between 1.96-1.99 which I forecast will be retested before starting its last descent. This area is also the area coinciding with the bearish structure.
The next descent will come down to 1.82-1.84 (between .5 & .618 fib) and reject from the HTF channel, creating the H&S pattern and starting the next wave up.
As this is the start of the next wave on the daily time frame, I am targeting a move that will break the previous highs and extend as high as the 2018 resistance zone.
This could potentially provide two trading opportunities. The first downward move, as well as the following huge upward move.
Let me know your thoughts.
Trade Safe!
HEET
