We are looking at a temporarily weakness in the Euro/Dollar-EUR/USD as the Minuette Retracement (red) for Minute B (green) is about to shoot towards 1.07500 Levels, which represent 50-61.8% (red fibs) of Minute A (green).
Withing Minute A (green), we are measuring Minuette ( iii ) (black) with a 161.8% Fibonacci Extensions of Minuette (i) & (ii) (black).
French Elections triggered our previously predicted Minuette (V) (black), which is unfolding as a (black trend-lines).
The would end with Sub-Minuette V (turquoise) and we will be watching out for a Divergence to be confirmed.
A Divergence can already be spotted and with one last push on the up-side it would confirm Decreasing Volumes V.S. Rising Trend.
Another good indication that Euro/Dollar-EUR/USD would complete Minute A (green) would be the 161.8% Fibonacci Extensions of Minuette ( iii ) & (iv) (black) for the end of Minuette (v) (black).
Sub-Minuette Fibonacci Extensions measurements of iii & iv (turquoise) are also pointing towards the 1.09800 Levels.
Long-Term wise, are are looking at a Market Shift and a Rebound in the Dollar Index ( DXY ), therefore, we would be very interested in looking for a Long-Term SELL Set-up for the Euro/Dollar-EUR/USD later on, when the current Major Consolidation will be over.
The Levels in focus for the Long-Term SELL Trade would be around 1.11000 Levels, where the Major Resistance Trend-Line (black) is located and could trigger the continuation of the Final Long-Term Wave for the Euro/Dollar-EUR/USD.
Euro/Dollar-EUR/USD - Short-Term SELL Positions:
Entry Level - 1.09800
Alternate Entry Levels - 1.09600 & 1.10000
SL - 1.10600 & 1.11000
TP - 1.08200 & 1.07450
* Safety Measures:
- when in the green, move SL to break-even or in profit
- watch for confirmation of Divergence
- if sudden Breach of Trend-line, watch for Flag Formations for Entry Confirmation
- if very conservative, only enter at Breach confirmation