EURUSD: bearish "High Wave"

EURUSD: bearish "High Wave"

1601eurusdH4 (2).png

There's a bearish "High Wave", so we could have a local downward correction towards the nearest support. If a pullback from this area happens, there'll be a moment to have another bullish price movement.

1601eurusdH1 (2).png

The last "Shooting Star" has been confirmed, so the price is declining. Meanwhile, if the 34 Moving Average acts as support, bulls will probably try to deliver a new local high.




EUR/USD: euro hung on Tenkan-Kijun

Narrowing bearish Ichimoku Cloud with rising Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen, but rising Tenkan-sen; the bulls could breakout the Kijun’s resistance.

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