MR_gold2 Euro Update on FX:EURUSD — TradingView

Ok, here’s a full analysis of the EURUSD currency pair based on the attached image and the same formula you prefer 👇

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🔹First: Technical Analysis
• Occurrence time frame: 4 hours.
• General trend: upward correction within a larger oscillatory trend.
• Price is currently trading below the strong supply zone around 1.1750–1.1800.
• The recent advance appears to be a corrective bounce after a previous bearish wave.

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🔹 Elliott Wave Analysis
• Previous declines are classified as impulse waves (A or 3).
• Current rise:
• Correction wave (B or 4).
• Unless there is a sustained break above 1.1800:
• The highest possibility is the beginning of a new downward wave (C or 5).

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🔹Time Analysis
• Complete corrective actions promptly.
• The pair is within a potential time reversal zone near current resistance.
• There are no timing signals confirming the continuation of the strong rally.

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🔹Digital Analysis and Momentum
• Positive momentum begins to wane.
• Histogram approaches zero → uptrend loses strength.
• Possible negative divergence from recent highs.

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🔹Fundamental analysis
• The dollar remains relatively supported:
• Expectations of higher interest rates over longer periods of time.
• The euro was affected by:
• Relative economic slowdown.
• In the medium term, fundamentals tend to force the pair downward.

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🔹Price Action
• Appearance:
• Price rejection candle is located near the 1.1750 area.
• There are obvious fluctuations in the display area.
• There is no bullish engulfing candle to confirm a true breakout.

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🔹 Supply and demand area

🔴Display area:
• 1.1750 – 1.1800 (very strong area)
• 1.1880 – 1.1920 (top view)

🟢Requirement areas:
• 1.1650 – 1.1600
• 1.1520 – 1.1480 (main level)

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🔹Support and resistance levels

Resistor:
• 1.1750
• 1.1800
• 1.1900

support:
• 1.1650
• 1.1580
• 1.1500

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🔹 Technology and digital models
• Model:
• Ascending corrective structure
• Price Action:
• Turn off peaks with weaker momentum (distribution sign).

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🔹 Harmonic model
• Forming possibilities:
• Bearish on Gartley or Bats
• Potential reversal zones:
• 1.1750 – 1.1800

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🔹Attention point
• Previous installation time:
• 1.1700
• 1.1600

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🔹 Pivot area
• Current key areas:
• 1.1680 – 1.1710
• Trading below this level reinforces the bearish scenario.

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✅ Final recommendation

🔻 Preferred Scenario (Sell)
• Admission sales:
1.1730 – 1.1780
• Stop Loss:
1.1830
• Target:
• TP1: 1,1650
• TP2: 1.162

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🔹 Purchase scenarios (alternatives and conditions)

❗ Currently no priority purchase
Only proceed if the following conditions are met:
• Clear breakout and close above 1.1800
• Successful retest
• Target:
• 1.1880
• 1.1950
• Stop Loss:
• Below 1.1720

The third situation
Drop to 1.165-1.16, targeted sleepy buying appears
1.17-1.19
Stop loss is also close