EURUSD: weekend review

Struggling with this blessed cold, so keeping the words limited today.



48 pip range bar study: Trend remains bullish.

 24 pip range bar study: trend remains bullish but price had overtaken the price envelope with overbought momentum, whilst approaching the 1.3831 high. Price now retracing, with key areas marked out with blue lines. The first parallel of the speedline study has a confluence there at 1.3677 and might be sufficient to turn the near term trend back uphill again early next week.

12 pip range bar study: the trend has turned neutral at this degree as it works through this assumed retracement. Price had been messing around at the 1.62x extension in a possible expanded flat correction 'c' leg, but could not muster a break of the pink dashed trend line on Friday.The momentum study suggests coiling or a triangle in formation at this degree, but left matters unresolved going into the weekend. Worth noting that the 262% extension of the possible expanded diagonal sits at 1.3667.

 6 pip range bar study: at this degree, the trend is still bearish and choppy to say the least. But with price pushing the previous days lows and failing to make a mark uphill, indeed, drifting away from the daily pivot, it appears there may be more downside to come, as per the remarks above.

 VWAP (red line) remained in the bearish camp Friday, only strengthening at the close as price retreated to the Sunday opening Pivot zone and Thursday's lows. The two day regression channel is still sliding downhill on the lower highs and a possible triangle is building. If this is the case, then I'll be looking for 5 waves down out of that, with the 'depth' projection looking like being at the channel LTL and yep, that 1.3670 area. It only looks like 'c' in the triangle is completed so should not gap significantly Sunday, unless it is up and the retracement is actually over.

On the square root regression study, posted Friday, the 1.3743 square line was broken and held to the downside Friday, but with lots of attempts to get back, hence the spikiness of the price action. The red angle line below sits again at that 1.3670 area and would test the depth of my FLD cloud there. So, the plan is to release my shorts at that area if price action allows and let the longs rise up into the top of the regression channel from 1.3294.