Two face Of Eurusd - forex trading brokers reviews

Two face Of Eurusd ~ forex trading brokers reviews

I have for some time now keeping a bullish bias on this pair. After the very long term bearish correction, thinking the market will return from there is not a bad idea; after all markets,we are taught, rise and fall in time and price.

I have done some long term analysis which speculated a bullish resurgence. You can scroll down the blog to read them.

Price did rise from the zone I speculated and I really made a good run of profits, on two different occasions. 

The bullish move is expected to be an impulsive move. 

Any sign of corrective pattern could signal that price could still dip further to complete the last leg of the bearish run.

Viewing the intra day chart, I have two positions to satisfy the two scenarios mentioned above. 

 

The intraday movement of price around the intraday zone(in red) could make all the difference in determining where the breakout will occur.

The either movement will confirm any of the wave count that birthed it.

Let price decide and we can follow.

 

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Eurusd Could Rally In A Decade - forex trading alerts review

Eurusd Could Rally In A Decade ~ forex trading alerts review

On 19th March 2015, I posted an analysis on why price could possibly come to the end of the long term bearish correction which lasted for about 7 years and dragged Euro from 1.6 to 1.1 ( more than 5500pips). Read here

We could also note the preceding bullish impulsive move from 2000 to 2008 ( a period slightly more than 7 and half years) that took Euro from 0.8 to 1.6, about 7800pips.

 

The retracement is about 70.7% ( infact trapped between 61.8% golden ratio and the 70.7% square golden ratio) retracement of the preceding bullish impulsive move ( move from 2000-2008). 

 

The 70.7% retracement supporting price movement shouldnt be surprising if we also take note that the ratio of 5500pips to 7800pips is about 0.707.

The Origin of the square golden ratio 0.707

 

Whether this is a coincidence or price is speaking in mathematical ratio, only time will tell.

 

This long term retracement has completed a double zig-zag corrective pattern and price is expected to rise in another years of bullish trend to break above 1.6 (Year 2008 high). 

 

 

The prospective long term bullish trend will expectedly subsume the daily and intra-day bullish and bearish trendy and corrective actions.

 

Its still a big debate which decides the other; fundamental or technical analysis?.

Fundamental analysis claims to know why things happen from decisions made while technical analysis studies the behaviour and forecast the decisions years before they are even made.

If Euro rises against the United states dollar above 1.6  to 1.8 in about a decades time or more, I might have to believe the technicals are the winners.

 

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