EURUSD ABCD pattern, bearish flag & false breakout

2 thg 2, 2019

In Oct-Nov 2018 we had ABCD pattern (see 3 colored waves ABC). This was followed by D/1 ascending channel which can be recognized as Bearish flag pattern on weekly chart. In the past days again ABCD pattern has been forming: for now first two waves C and B are the same length as the mentioned waves from Nov 2018. Also notice two false breakouts from the ascending D/1 channel, marked with yellow circles. The last false breakout and ABCD pattern formation indicates that the last wave is targeting 1.1190