The EURUSD encountered selling pressure this week right where I thought it might. On Sunday I pointed out how the February 21 session closed below 1.2330, which meant the area was likely to attract sellers on retests.Another level I mentioned on Sunday was the short-term trend line that extends from the January 18 low. I suspected this area would attract buying pressure on a retest this week.However, yesterday’s session closed below the level without much hesitation. It did find some intraday su…
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EUR/USD: wave analysis
2018-02-15
EUR/USDThe pair can grow.On the 4-hour chart, the fifth wave 5 of (1) of the higher level is forming. Now the fifth wave of the lower level v of 5, within which the wave (i) of v has formed, is developing. If the assumption is correct, after the correction (ii) the price will grow to the levels of 1.2650–1.2700. The level of 1.2202 is critical for this scenario.
EUR/USDThe pair can grow.On the 4-hour chart, the fifth wave 5 of (1) of the higher level is forming. Now the fifth wave of the lower level v of 5, within which the wave (i) of v has formed, is developing. If the assumption is correct, after the correction (ii) the price will grow to the levels of 1.2650–1.2700. The level of 1.2202 is critical for this scenario.