E/U Long Term Outlook
Monthly: MA's crossed bullish. Bullish Engulfing off 1.1520 Monthly support.
Weekly: MA's crossed bullish. Doji at Weekly resistance 1.2025.
Daily: MA's crossed bullish. Break of Daily descending trendline. Completed ABCD pattern at -27%. Price never broke Weekly resistance or Daily resistance, showing exhaustion.
- Overall, with confluence around the 38.2% and 50% retracement levels, expecting a pullback for a retest of broken Daily descending trendline and Daily support. Possible 3rd bounce off Daily ascending trendline. Looking to take advantage of short positions on lower time frames this coming week.
Weekly: MA's crossed bullish. Doji at Weekly resistance 1.2025.
Daily: MA's crossed bullish. Break of Daily descending trendline. Completed ABCD pattern at -27%. Price never broke Weekly resistance or Daily resistance, showing exhaustion.
- Overall, with confluence around the 38.2% and 50% retracement levels, expecting a pullback for a retest of broken Daily descending trendline and Daily support. Possible 3rd bounce off Daily ascending trendline. Looking to take advantage of short positions on lower time frames this coming week.
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