Dow Jones continues to probe resistance around fibonacci 0.88 levels (28000/200). A break below the counter trend line support and 26000 will confirm that a meaningful lower top is in place around 28000 mark. The indice had earlier drop from 29600 to 18200 levels in 5 waves, impulse Wave (1). The counter trend rally towards 28000 mark is labelled as corrective Wave (2). If the above is correct, EURUSD should be heading lower towards 18200 and beyond as Wave (3) progresses. Having said that, we need to see a clear break below 26000 to confirm a potential bearish reversal.
Remain short, stop @ 29600, target is ope
Risk Disclaimer:
Trading Forex or any CFD products may not be suitable to all investors and they must evaluate their risk appetite. The above article should not be construed as a trading or investment advice as it is solely for education and information purpose only. Trading might incur a loss of capital and hence investors might be required to gain further knowledge regarding the risks involved. Leverage should be used wisely.
Remain short, stop @ 29600, target is ope
Risk Disclaimer:
Trading Forex or any CFD products may not be suitable to all investors and they must evaluate their risk appetite. The above article should not be construed as a trading or investment advice as it is solely for education and information purpose only. Trading might incur a loss of capital and hence investors might be required to gain further knowledge regarding the risks involved. Leverage should be used wisely.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.