A Big Change In Money Market Is Expected|Euro Is Going To Start Big Move Against US Dollar Soon



After successful BAT A very big bullish Shark pattern:

Hi folks, hope you are doing good. In my previous article on September 2019 I predicted that soon the balance between Euro and US dollar in the Forex market will be changed. As euro had formed a complete bullish Shark pattern against the US dollar pair.

Before this Shark pattern we can also examine that from December 2015 to Feb 2016 the euro completed bullish BAT patter and started is very big bullish rally from the potential reversal zone of this BAT. The rally started from Jan 2016 and ended on Feb 2018.

This time the bullish rally can be stronger than the previous one because this Shark pattern is more bigger than the previous bullish BAT as it was started from December 2016 and completed in March 2019. And this month we can see that the price line of euro has taken bullish divergence and hit the sell zone that I defined as per Fibonacci sequence of bullish Shark pattern. But after hitting the sell zone the priceline again dropped down in the potential reversal zone.

Before execution:

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Click here to read old article

After execution:

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Why priceline moved down in PRZ level again?

Now the question is that what was the reason that stopped the priceline to completely enter in the sell zone to start a bullish rally. To know this we need to switch to the week chart. And here we can see that the there are four simple moving averages working as resistance. The 25, 50, 100 and 200 simple moving averages and the priceline is not able to cross up or break out even a single of them and moved down.

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A formation of falling wedge:

On the same weekly chart we can also observe that the price line is moving within a falling wedge since November 2017. We can see two more touches by the candlesticks at the resistance of the wedge and after these two recent touches the resistance of the falling wedge is more confirmed. Now at this time the candlesticks are hitting at the support of the Wedge. I have also so placed the volume profile on the complete price action moving within this wedge and as result we can see that the trader’s interest is very low below $1.10 and the point of control of the volume profile is at $1.14. This time the price line is moving in the area where the traders interest is very low therefore there are strong chances that the euro will take the bullish divergence from the support of falling wedge and move up at least up to the point of control of this volume profile.

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Click here to visit tradingview for complete chart

Oscillators and indicators:

If we see some indicators and oscillators then we can see that relative strength index (RSI) has already visited the oversold zone therefore I am expecting that it will not enter in oversold zone again. The moving average convergence divergence (MACD) is strong bearish and the stochastic is in bear cross. Once we will have bull cross from stochastic and MACD will be turned weak bearish from strong bearish then we can expect that the priceline will make another attempt to break out the resistance of the wedge

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And once the resistance of the wedge will be broken out then we can expect a very powerful bullish rally that can totally change the market balance between Euro and US dollar. So be ready for big market change.

Note: This idea is education purpose only and not intended to be investment advise, please seek a duly licensed professional and do you own research before any investment.


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