EURUSD Daily chart In the above EURUSD daily chart, the pair was moving higher in the upward sloping channel since December 2015. It has breached the channel and Diamond pattern (marked by red color line) on downside after Britain decided to leave EU. As per wave perspective, the pair has completed minor wave Z of a complex correction W-X-Y-X-Z near 1.1400 levels and resumed the major downtrend. In the previous week it did not move beyond the resistance of 1.1200 and formed the big red candle after shooting star pattern. This indicates the end of wave b/2 near 1.1165 levels and started the next leg on downside in the form of wave c/3. In nutshell, as long as the pair sustain below 1.1200 levels bias is negative and it could move lower towards 1.0700-1.06500 levels which is the pattern target and 100% Fibonacci projection for wave c/3  Dollar index 240 mins chart In the above dollar index 240 mins chart, post brexit, index is moving in consolidation and formed the ascending triangle pattern in the minuette wave b. Index has completed wave X near 93 levels and currently moving higher in the form of wave Y. In last 2 weeks index failed to move above the resistance of 96.70 levels and pulled back. In the last trading session of the previous week, index found support near the upward sloping trendline of the pattern and it is on the brink to break the pattern on the upside. A close above 96.70 could open up the possibility for the move towards 98.25-98.50 which is the pattern target. Guest post by  Mohnish Shah Felipe Erazo Felipe Erazo Felipe earned a degree in journalism at the University of Chile with the highest honor in the overall ranking, and he also holds a Bachelor of Arts in Social Communication. He has been working as a freelance writer and forex/crypto analyst, with experience gained at several forex broker firms and forex/crypto-related media outlets around the world, such as FXStreet. He has been involved in the world of online forex trading since 2010, and in the crypto sphere since 2015. Moreover, Felipe has worked as a journalist and editor for several media outlets across Latin America, collaborating with radio stations from his home country, Colombia, Chile, and the United States. View All Post By Felipe Erazo Forex Bits share Read Next EUR: Dovish ECB; JPY: High Risk Of Disappointment – Yohay Elam 6 years EURUSD Daily chart In the above EURUSD daily chart, the pair was moving higher in the upward sloping channel since December 2015. It has breached the channel and Diamond pattern (marked by red color line) on downside after Britain decided to leave EU. As per wave perspective, the pair has completed minor wave Z of a complex correction W-X-Y-X-Z near 1.1400 levels and resumed the major downtrend. In the previous week it did not move beyond the resistance of 1.1200 and formed the big red candle after shooting star pattern. This indicates the end of wave b/2 near 1.1165 levels… Top Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
