The Euro has been hammered the last days and
it is not unlikely it will complete this deep AB=CD
pattern that coincide Daily/Weekly pivots. Price
now stand at the minimum target of the pattern,
the 61,8 fib of the CD leg (1,3717) and the 38,2 fib of
the whole leg up. The D point can be traded if
price respect that level and if move down is not too
sharp. Staying on the sidelines is also a good
Pre NFP "trade". A target of D point entry could be
either the 38,2 fib of whole pattern or using the BC
leg projection (here around 1,3740)
it is not unlikely it will complete this deep AB=CD
pattern that coincide Daily/Weekly pivots. Price
now stand at the minimum target of the pattern,
the 61,8 fib of the CD leg (1,3717) and the 38,2 fib of
the whole leg up. The D point can be traded if
price respect that level and if move down is not too
sharp. Staying on the sidelines is also a good
Pre NFP "trade". A target of D point entry could be
either the 38,2 fib of whole pattern or using the BC
leg projection (here around 1,3740)