The EUR/USD is testing the resistance trend line of the downtrend channel (red/green). A bullish break, however, does not automatically translate into the end of the downtrend itself (see wave 4 on 1 hour chart). The 123 (purple) becomes more likely than a
...The EUR/USD downtrend channel (red/green) remains intact and yesterday price broke another bear flag chart pattern (dotted green). Price has now reached the 127.2% Fibonacci target. Both an ABC (blue) or a 123 (purple) are possible but the 123 (purpl
...The EUR/USD is pausing at the 100% Fibonacci level of wave C versus wave A. Wave C (blue) corrections are typically equal to the length of wave A so a break below the 100% Fib target increases the likelihood of a potential wave 3 (purple). A break above th
...The EURUSD is building a strong bearish channel, GBPUSD bounced at a bearish 78.6% Fib and is showing strong bearish momentum daily candle (plus find out what that means for trading), the AUDUSD is showing indecision at the 61.8% Fib level and the USDJPY is building a b
...The EUR/USD is building another bear flag chart pattern (orange) within the downtrend channel (red/green). Wave C (blue( corrections are typically equal to the length of wave A so a break below the 100% Fib target increases the likelihood of a potential wa
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