EUR/USD preparing a long term bearish trend.
Technicals:
* Long term channel on weekly has been met.
* Completed a 5 wave structure with a Expanded flat retracement of the recent impulse.
* Double top confirmation that we will not break that price level.
* Weekly indicators showing extreme over bought conditions.
Fundamentals:
*The USD is projected to be stronger this year by financial institutions.
*The USDX just finished a long term down trend and retracement.
Plan of attack:
* Wait for the stoch/rsi indicator to be overbought.
* The yellow boxes i have on my part are fibonacci confluence zones and possible reversal points to look out for.
Be patient, and make some cash!
* Long term channel on weekly has been met.
* Completed a 5 wave structure with a Expanded flat retracement of the recent impulse.
* Double top confirmation that we will not break that price level.
* Weekly indicators showing extreme over bought conditions.
Fundamentals:
*The USD is projected to be stronger this year by financial institutions.
*The USDX just finished a long term down trend and retracement.
Plan of attack:
* Wait for the stoch/rsi indicator to be overbought.
* The yellow boxes i have on my part are fibonacci confluence zones and possible reversal points to look out for.
Be patient, and make some cash!
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