Medium-term bullish cypher on EUR/USD

8 thg 10, 2018

My confidence is increased due to the correlation with DXY and my bearishness on it(it's forming a right shoulder inside of a right shoulder inside of a right shoulder at the moment).

Other than the resistance between points A and C, I'd be looking at the .5 fib extension(green) and the red rectangles as potential targets.

8 thg 10, 2018

Ghi chú

I know it's pretty messy but here's a short-term shot of what I'm seeing in DXY. Note the confluence with the targets of the little triangle pattern and the shortest-term head and shoulders at ~94.93.

This takes place within a right shoulder on the weekly chart...

8 thg 10, 2018

Ghi chú

Extremely short-term bullish divergence on 5 min chart(and barely starting to show on 15 min). DXY is making it more obvious that 96 is likely the top for a while...

9 thg 10, 2018

Ghi chú

Bitcoin will most likely benefit A LOT more from the impending freefall of DXY than EUR/USD will though...

9 thg 10, 2018

Ghi chú

So far so good, reached point B already, validating to me that the pattern has significance, and now it's dipped back down and tested support... exaggerated bullish divergence on the 15 min timeframe.

9 thg 10, 2018

Ghi chú

the pattern is now officially invalidated but at this moment I'm still bearish AF on DXY so I expect it to recover back above the PRZ in the extremely near future, at which point I expect the reversal points in the pattern and the related fibonacci extension to have an effect(support and resistance) on price action on the way up, at least.

9 thg 10, 2018

Ghi chú

immediately after my last update I realized there is a bullish shark pattern now at play instead. just had to move things around a little bit to adjust targets based on the new PRZ.

9 thg 10, 2018

Ghi chú

It will be interesting see price action react to the lines from both charts :)
Here's the interactive version of the bullish shark

11 thg 10, 2018

Ghi chú

I'm no longer bullish even though DXY looks bearish. Bearish div on 30 min chart. Bitcoin's turn!