I have a sell bias on this pair going into next week. DXY strength also gives a confluence for this as dollar strength means EURUSD weakness
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A previous weekly engulfing candle away from previous indecision in the market represented by doji candles gave us our directional bias
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Using the Elliot impulse wave theory we can predict that price is potentially going to make the 5th and final wave to the downside. Using our fib took from swing high to swing low we have also pulled back into the 61.8 fib zone (golden zone) and began to show signs of a slow down in momentum
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A previous weekly engulfing candle away from previous indecision in the market represented by doji candles gave us our directional bias
-
Using the Elliot impulse wave theory we can predict that price is potentially going to make the 5th and final wave to the downside. Using our fib took from swing high to swing low we have also pulled back into the 61.8 fib zone (golden zone) and began to show signs of a slow down in momentum