Forex Trading Technical Analysis

Hello Traders I'm going to be analyzing the US dollar

I'm going to be analyzing the US dollar again starting on the monthly and working my way down to the one-hour time frame so on the monthly US dollar again it still looks to me like this is a big ABC cut and especially with this impulsive move down now with this ABC on the US dollar again we have to keep in mind that the Yen pairs look like they need to just keep on going up so if the Yen does control this pattern then it very easily could just keep on trending up like that

So luckily it shouldn't matter too much because it looks like we're in a question on the sort of time frames in a way so we really should be looking for Longs and shorter time frames and if it just keeps on trending up no problem for us so heading down to the weekly time frame on the weekly time frame it looks like a downtrend I'm still calling it a wave one because this does look like a wave C on the monthly time frame then we do have three waves up right here we do have an impulsive turn but it doesn't seem like this one is turned in a big way it kind of seems like it needs to go up more and like

I said it very easily could just keep on drifting up so let's keep going down to the Daily type of thing on The Daily time frame our last important structure level is way down here that's a really good clue that this move down is actually going to be a question and that this is going to go up again if it is a wave seat and it very easily could bounce off one of these FIB levels making a pulsive move down to ending a trend and continuing the downtrend if it's not a wave seat and it could just keep on going up never breaking structure to the downside and just keep on trending up like that so let's keep going down

The four hour time frame we have a break of such an on this time frame but all that does is prove that this sets in trend is over it doesn't prove that we had the end of a wave C on the longer time frames now we do have NFP coming out today so we have to keep that in mind it does look to me like a downtrend as of right now maybe even a wave it looks like the next move up should be a question and that it should go down later for wave C usually NFP causes a pretty big move in the market so I have a hard time believing that that's going to cause a wave B and very easily

Actually could just cause this to just keep on going down so let's head down to the one-hour time frame one hour time frame this move up definitely looks pretty corrective so we do have NFP big news coming out in about a few hours so if this does look like anything like this at the news then I would take that as a saw because it very easily could just keep on trending down then we have a breakup starter on the medium time frame veins we know that the trend is turned down we assume that it's going to be an ABC correction but if it's not and it turns into a much bigger move to the downside then it doesn't matter to us because we will be looking for sorts until we can see something that looks like the end of a question around the daily and four-hour time frame which we have not seen yet so we'll just continue to look for sorts until we do see something that does think that or tell us that this ABC potential ABC Crescent is over

Happy Trading Good Luck