Hello again.
The EUR/USD appears like it’s forming a nice Contracting Triangle (CT) formation on the 10 minute chart. Remember, as we move along and get further and further into the triangle, we’re going to see a breakout soon. Be prepared for that.
Looking at other currency pairs, let’s pull up the NZD/USD 10 minute chart. It seems like the latest movement is potentially unfolding in a bullish movement. We went up to form Wave 1, then down for a quick Wave 2 and am now heading back up for a Wave 3.
At this point we don’t know if it’s going to be a 3 wave or 5 wave movement yet, but the shorter term sentiment appears to be bullish.
Good luck with your trades and be sure to use your protective stops. Cheers.
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