$EURUSD

maybe the lower low should be marked 5
Anew two legged move to a test of the low may be bought,according to Brooks. target may be a test of the recent high

 

the macd shows it is probably more waves down.
however the price action in the yellow circle with a lot of overlapping bars- each bar retracing the previous bar by a 'larger' amount than in the earlier fall in the same swing down.
also the previous up move or swing up has been retraced.
euro is now between two big trading ranges- one on the top and one on the bottom
the price action in the yellow circle indicates a pull back is very likely maybe till the recent high

 

the chart show the yellow area in close up.
whether you call the price action in the yellow circle a wedge-swing no 2 was a deep retracement-it is clear, that it is not as bearish, as the price action, that preceded the yellow circle.
the big down bar, marked with a yellow arrow-the biggest in the entire swing down- shows that traders were waiting eagerly to enter short, as soon as the first pull back occurred:the next three bars would have disappointed those who entered on that big down bar.A test of the big down bar is therefore likely.
A trading range type of price action is hinted by the narrowing down of the bollinger band.the 'wedge' also hints at the same thing.
A big down bar on monday is the only thing which will change this outlook

 

It's testing the support at 1.1750 and I think we may see it depreciate below 1.1700 next week.

 

yes it is cross roads-it has retraced the up move fully.
i know it is stupid answer but it may move in either direction
because of the highly bearish swing down till now, i think it will move in both directions-to confuse both the bulls and bears.
expecting a pull back to test ema and then may have another move down; with higher or lower momentum than before.

 

eurusd is bottoming out buy now with a stop of 80-120 pips

tighter stop may be around 50 pips from present level

target 1.2159

 

After the correction it may depreciate to 1.1500 though.

 

yes does not look to go much higher looking at price action so that call is not good anymore

 

eurusd on the daily chart has tested and gone below 1.1763 for time and recovering the 4 attempt was just now today.
may test higher levels may be the big down bar on 15 /05
or even higher if it so pleases

 

sold eurusd see chart M1