EUR/USD's recovery from 1.3054 lost momentum after hitting 1.3423 and formed a temporary top there. Intraday bias is turned neutral for the moment. It looks as if whole sideway consolidation pattern from 1.2969 is extend further and we'll stay neutral as long as EUR/USD is still bounded in range of 1.3054/3423.
We have an ABC top at the 1.36/1.37 followed by a downward D on the weekly if the resistance is not taken out
On the upside, break of 1.3234 price are currecnlty holding 1.3364 which will indicate that rebound from 1.2969 is resuming for 1.3785 resistance. On the downside, below 1.3054 will suggest that whole decline from 1.4281 is resuming for another low below 1.2969. the 1.17/1.16 D 1.618 low trend line
Elwave Count
A1/ 11 elwave high setting us up for a iii wave down Price are within the warning line so we have to stay alert for the rally then the drop i don't see 1.3350 being breached i will be looking for sell signals on the 4hrs and
Daily around these prices becasue the stochastics is bullish need to waite for weakness and then a faliure.
RSI has failed long term and we are want falling momentum.
Also watching the news in the coming days to confirm bais
Good Luck!!!!
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