Euro vs US Dollar W1 Live Forex Chart
EURUSD,W1 Chart By dhby
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abc of last rally is now confirmed by broken channel with missing 5th wave
still a break of 1.1016 is required to be completely sure that all rally since july is a zigzag
so is a zigzag
1.12 becomes a critical level for bulls
as time is running out and not in bulls favor
bullish engulfing is out of scope now
if July high is not broken during next 2 months this will become a perfect bullish engulfing on a monthly TF
not an engulfing. yet 1.0847 needs to be broken to end bullish dreams
for bears if 1.20 holds will open doors to 0.8225
1.35 if reached and breached will possibly open a test of 1.60
Next massive selloffs could be near 1.28 and may have enough power to get it back to 1.15 (may be Mr. Draghi will assist in that)
This rocket should go really fast. First possible selloffs could be in 1.18 area and if those fail to break 1.15 shortly by March 2016 it may rally back to 1.40.