This pair have something interesting relations in here. In fact the friday bottom was both, montly chart 23.6% bottom and daily chart 50% retcamement bottom from 2008. Once daily chart fib as 50% were met price reacted immediately with huge upside movement.
Missed this one, because I haven´t chart it before. That blow-up was retraced also by 76.8% (again these ultimate deep fx market retracements all over). Next upmovment to the 0,8441 is retraced as well, and again with 76.8% retracement. Since then price consolidating zigzag & triangle, likely going to break with big movement. Price is stucked between 38.2% and 50% now and inside of triangle.
While daily chart actually suggest impulse uproad because it was retraced with 50%, I took a swing long 0.8801 with stop of 0,8735. Yellow line is daily chart 50% in the chart. In fact if this small triangle solves to the upside, price should not go even below 0,8770 anymore.
I think this is pretty beautifull setup as most other pairs are still on the way to somewhere where entry level would be met.
While US is closed all markets are pretty much dead as allways. I serisously wonder all about those press from last 10 years repeating how financial powers will located in China and it will dominate the world. What we could do in here without US money flows – when they are off everything is allways dead silent. Do we really chart & trade one day some “zing-zang-ciahuahua-feng-shui” index instead SPX to see where the world is heading ? I bet not, perhaps our children will or perhaps there´s not such a place as market even exist anymore.
Eur-Usd seems to be set very comfortable with this 1.4000 area. W5 could be fast and furious for 50% area on the tape on this week while it still leaves question mark of subminuette W4 correction. Have to confress again, everything is set up for very interesting way in here. Eur-Jpy also now testing 78.6% upside resistance while 127,00 as last bottom was also 78.6%.
UsaCad still missing to reach my .618 target.
Ultimate market needs ultimate fibonacci´s…right now and before US wakes up tomorrow, sideways zigzag likely behaves all over meaning we do not go nowhere.