NOW with eurusd my analysis usually depend on the dollar index wave count but since last week I can't seem to get a clean count on that index which makes me second guess my analysis a lot on almost all major pairs . But these two are the most likely scenario and hopefully this week the index will clean its self and we can start trading it again
Also on GBPUSD a lot of possible scenario I can't commit to anyone because I can't count definitively DXY , but if I had to endorse one bias then I would be trading this
So agin with the market stalling at the start we are focussed on the daily bias
This is what I think todays trading will do so we should look for waves that align with this .. again don't force selling if you don't see it then leave it
The dollar index unless we get a truncated move here on wave (5) that will cause immediately change in the direction , price should continue lower forming a normal wave (5)
NOW the ripple effect on the dollar index trading lower is EURUSD trading higher as this wave (c) seems to want to form an extended wave (5)
If I were to pick a pair that will most likely present high probability trades it will be this pair . We are trading wave (3) on the daily timeframe so we will be looking for selling opportunities . Any bullish move we treat it as a pullback to allow us to keep selling . Remember short term trade ideas are build from long term plans
Remember GOLD is bullish this moth and any bearish move will be treated as correction move