For context have a look at my previous posts. I was looking for a wave B correction and continuation higher on lower time frames. The question is will FOMC trigger this wave C higher or will the dollar gain strength again?
Whatever the case will be, I'll be looking to buy the EURUSD and if it turns bearish again I'll let it go for now.
This is due to the fact that I expect at least another leg higher after this consolidation shown by means of the channel/ bear flag.
The main events for this range bound price action were both ECB and FED in terms of QE and rate hike. We already tested the 50% of this range which is a common retrace level for the EURUSD. Now I like to see a break out on the upside for a buy opportunity.
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Whatever the case will be, I'll be looking to buy the EURUSD and if it turns bearish again I'll let it go for now.
This is due to the fact that I expect at least another leg higher after this consolidation shown by means of the channel/ bear flag.
The main events for this range bound price action were both ECB and FED in terms of QE and rate hike. We already tested the 50% of this range which is a common retrace level for the EURUSD. Now I like to see a break out on the upside for a buy opportunity.
www.timstuyts.com
facebook/timstuyts
