What’s Next After EUR/USD Bounce at 1.15?

Chris Svorcik Elite CurrenSea

Meta description: The EUR/USD failed to break below the round level of 1.15 after price broke below the chart pattern. The bullish reversal could indicate a larger correction or perhaps the end of wave A.

EUR/USD

4 hour

The EUR/USD failed to break below the round level of 1.15 after price broke below the chart pattern. The bullish reversal could indicate a larger correction or perhaps the end of wave A.

The EUR/USD failed to break the larger support trend line (blue), which could indicate an expanded wave 4 (pink), a smaller correction on a 1 hr chart or the completion of atruncated wave 5 (pink – failure to break the bottom).

1 hour

The EUR/USD bullish momentum could be a wave 1 (or A) and the correction could be part of a wave 2 (or B) as long as price stays above the 100% Fibonacci level at 1.1508 which is the invalidation spot for a larger bullish move.

Author

Chris Svorcik

Elite CurrenSea

Experience Chris Svorcik has co-founded Elite CurrenSea in 2014 together with Nenad Kerkez, aka Tarantula FX. Chris is a technical analyst, wave analyst, trader, writer, educator, webinar speaker, and seminar speaker of the financial markets.

EUR/USD holds near 1.1900 ahead of US data

EUR/USD struggles to build on Monday's gains and fluctuates near 1.1900 on Tuesday. Markets turn cautious, lifting the haven demand for the US Dollar ahead of the release of key US economic data, including Retail Sales and ADP Employment Change 4-week average.

GBP/USD declines toward 1.3650 on renewed USD strength

GBP/USD stays on the back foot and declines to the 1.3650 region on Tuesday. The negative shift seen in risk mood helps the US Dollar (USD) gather strength and makes it difficult for the pair to find a foothold. The immediate focus is now on the US Retail Sales data.

Gold stabilizes above $5,000 ahead of US data

Gold enters a consolidation phase after posting strong gains on Monday but stays above the $5,000 psychological mark and the daily swing low. US Treasury bond yields continue to edge lower on news of Chinese regulators advising financial institutions to curb holdings of US Treasuries, helping XAU/USD hold its its ground.

Bitcoin Cash trades lower, risks dead-cat bounce amid bearish signals

Bitcoin Cash trades in the red below $522 at the time of writing on Tuesday, after multiple rejections at key resistance. BCH’s derivatives and on-chain indicators point to growing bearish sentiment and raise the risk of a dead-cat bounce toward lower support levels.

Dollar drops and stocks rally: The week of reckoning for US economic data

Following a sizeable move lower in US technology Stocks last week, we have witnessed a meaningful recovery unfold. The USD Index is in a concerning position; the monthly price continues to hold the south channel support.

Bitcoin Cash trades lower, risks dead-cat bounce amid bearish signals

Bitcoin Cash (BCH) trades in the red below $522 at the time of writing on Tuesday, after multiple rejections at key resistance. BCH’s derivatives and on-chain indicators point to growing bearish sentiment and raise the risk of a dead-cat bounce toward lower support levels.