eurusd insight
I was thinking where we should be at FOMC that both directions would be possible..
- we could sink for 100 pips and wait there..
added in this case that low would be bFlat
- we could stay here somewhere but it is 4 days left...are we ready to stay flat so long?
added again only bFlat, we could either drop for 100 pips or go higher
- we could be above 1,3575 and wait there
added and to remain in bFlat..
I make a picture if 3rd option is possible at al and I belive it is.
You may see in the picture..from there we could plunge as DZZ into W&R but not too deep because of the angle of channel..whole picture would look bearish but we would bottom 3ED...then we have 2 weeks to climb into 4th to stay in channel and plunge again.. this time limited move..again would look bearish but then we would bottom 5th which would be 4ED on Monthly..then move up could be unlimited long, from 1,3892 to the sky, well not so much, as 5ED on Monthy.....
From 1,3575 we could also go up, attack 50% of 1st weekly swing low and there (or higher) finish Flat 2nd..this scenario would remain long term bullish but deep of 5th could be even double bottom at 1,2040..we could do this also although we drop first as written above in second crossing of 1,3575, well next week candle high..
Maybe closing of short positions before weekend might give a push..
Added: just above 1,3575 is 262 expansion of c=a on H2 (red line!!) and it is not best seen..if we bottomed b already
..and for dessert I give a picture about ED from ˝big master˝ Prechter...so, whatever I think, ˝ The biggest Interpreter˝ does not know how market really behaves...