EURUSD Wave Analysis
EURUSD is moving in a bigger wedge formation and reached lower rising support.
Price dropped in 5 Waves from the top of the structure.
And the fifth wave was also made out of 5 waves.
We have a nice RSI divergence between wave 3 & wave 5 on the 1H chart.
Price is forming buy signals:
Position was taken on 4H on the break of the outside bar (forming morning star pattern).
Price dropped in 5 Waves from the top of the structure.
And the fifth wave was also made out of 5 waves.
We have a nice RSI divergence between wave 3 & wave 5 on the 1H chart.
Price is forming buy signals:
- Pinbar candlestick on 1H
- Morning star pattern on 4H
- Double Bar pattern on 8H
Position was taken on 4H on the break of the outside bar (forming morning star pattern).
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