Forex EUR/USD Daily Video, April 25, 2023

[Sive Morten]

Good morning,

EUR has broken intraday bearish context yesterday and potentially could form upside butterfly on daily/4H chart target. Picture has a lack of clarity by far. Supposedly long entry could be possible around 1.0970 Fib level. Today we do not consider any short positions, but potentially we could get bearish grabber on daily chart:

 

[soul rebel]

Thank you Sive,
so it's a close below approx. 11040 on the daily that will give us the brearish daily grabber?

 

[minimax]

E$ is harder.. so.. yes, upside is possible, but to me not probable.. 5th wave exceeded 200% of C Flat for less than 3 pips.. I think we are heading down.. buy zone is below 1,07132.. I expect to take 1,05161 low.. we will see.. this structure can be wrong and we could go lower but I am sceptical..

 

[minimax]

1st target for v-th wave pierced.. extended at 161,8%.. so far this could also be ABC pattern.. so WXY with W&R stil in play..

 

[Sive Morten]

Thank you Sive,
so it's a close below approx. 11040 on the daily that will give us the bearish daily grabber?

Yes, Viresh and it seems that we're getting it. Besides, it seems that we could even not get the butterfly... Action down is now rather strong...