Euro / U.S. DollarShort
EURUSD is topping up. Look for selling opportunities
If you have a look at the daily EURUSD chart, what do you think the next major move will be?
"Buy low, sell high" is the best statement to describe what is going to happen to this chart. As per Fractology wave analysis, EURUSD has to correct its rally up which means the decline of EUR is looming large.
On the 4-hour chart, the pair has made an impulse down which makes us believe there will be at least one more downside move.
However, as per our wave probability analysis, there is a chance for one more upside move which will break the August high. After that, the pair will likely crash down.
It is reasonable not trade the pair for bullish moves at the moment and wait for a big change down.
"Buy low, sell high" is the best statement to describe what is going to happen to this chart. As per Fractology wave analysis, EURUSD has to correct its rally up which means the decline of EUR is looming large.
On the 4-hour chart, the pair has made an impulse down which makes us believe there will be at least one more downside move.
However, as per our wave probability analysis, there is a chance for one more upside move which will break the August high. After that, the pair will likely crash down.
It is reasonable not trade the pair for bullish moves at the moment and wait for a big change down.
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.