EUR/USD 4H chart EUR/USD surged after Powell’s speech on Friday…
EUR/USD: developing wave 4
2019-11-11 • Updated
There's a developing wave 4, which is likely going to take the form of a zigzag. So, if a pullback from 4/8 MM Level happens, there'll be an opportunity to have a bearish impulse in wave [c]. The main target for wave 4 is 1/8 MM Level.
It seems like we've got an ending diagonal pattern in wave (c) of [b]. In this case, if we have a pullback from 4/8 MM Level, bears are likely going to test 1/8 MM Level, which could be a departure point for wave (i).
This week, there are a few high-probability trade ideas I'd like to recommend to you. Trading these setups, be sure to implement a proper risk management approach.
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