EUR/USD Look Ahead for week start 12/01/19

The Euro-Dollar is in a clear cut Bear Market on the weekly with the 50 ema below the 200 ema which is below the 800 ema. There is a peak formation, at 1.117, with price trading off the 30 week ema, implying a downside target of ~1.09. We’ll see. Standing back a little and looking at the chart cock-eyed, starting to smell like an a-wave top, with a b-wave just being put in. What do you want to bet the peak formation gets taken out in a c-wave…

The Pair is in a clear cut Bear Market on the daily, with the 50 ema below the 200 ema which is below the 800 ema., trading off the top formation at 1.08 to 1.095. Assume a down-trend unless the pair closes on the daily above 1.1029, which is the 13 ema. Closing above the 13 ema would imply a correction within the down-trend.

The Pair is in a clear cut Bear Market on the four-hour, with the 50 ema below the 200 ema which is below the 800 ema. Things got very interesting Friday with a POWERFUL piercing pattern shifting the trading zone higher, and retracing the price action of the bottom faster than it formed. TREND CHANGE BABY! WOO HOO! TIME TO GET LONG! Ah, hem, sorry, lost it for a second there. Anyways, good time to get long with a stop under 1.09812 in the consolidation you should see going into Monday. I’m looking for a multi-day run over the a-wave high at 1.1097 and potentially up against the 800 ema around 1.111.

This is my EUR/USD look ahead for my own trading purposes. FOREX trading involves risk. Feel free to comment, but trade off of this post at your own peril.