- The EURUSD is going up right now, but it looks like a dead cat bounce rally. It was a nice short-term bull market! We need to focus on the main direction of the trend, which is bearish .
- I think EURUSD will go up to 1.06311, where there is an extremely strong resistance that should be a reversal point.
- This is a once-in-a-lifetime chance to short EUR/USD!Follow my calls.
- As per my Elliott Wave analysis, we need a final impulse wave to the downside to complete a major impulse wave. Typically, wave 1 serves as strong resistance, which in this case is 1.06311.
- 1.06311 is a strong resistance because it is the 2020 COVID swing low + wave (1) + 0.382 FIB retracement (wave 3).
- You can take profit at the previous POC of the triangle from 2000–2002 (0.88691) or at the previous swing low from 2000 (0.82311).
- This is not a trade setup because there is no stop loss, expected duration, risk-to-reward ratio, or timing. I post professional trade setups elsewhere. This is just an analysis.
- I am more than happy to provide you with these analyses, so if you like it, hit “Like” and “Follow”!
- Tell me in the comment section what you think about EURUSD . It looks like everyone is now extremely bullish , which is definitely not a good sign! The majority is usually wrong.
- Stay strong!
EURUSD – Massive 22% crash to 0.82! Lifetime opportunity!
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Professional trader and analyst. My specialization is in Elliott Wave Theory, Fibonacci tools, chart patterns, candlesticks, and price action. To analyze market structure, I use market profile and volume profile in my trading system. To analyze trends, I use trendlines, VWAP, and simple moving averages.