EURUSD holds the proposed wave structure discussed earlier and reverses after 1.1365/70. The currency might need to print another low below 1.1260 before producing a meaningful retracement. Either way, bears are looking in control and EURUSD should be heading lower towards 1.1000 and 1.0755 levels, going forward. The larger degree wave structure suggests that EURUSD rally from 1.0636 through 1.1400/20 is looking corrective; 3 waves for now. We need to change labeling from 1,2,3 to A,B,C to represent a corrective rally. A drop below 1.1150 would instill further confidence in bearish structure.
Strategy:
Short against 1.1400, targeting 1.1000 and 1.0755
Legal Disclaimer: This article is not investment advice. The data provided is for marketing material purposes and is not intended to confuse nor guide our clients on trading decisions. Any investment activity performed is perceived to be a self-directed decision. Exclusive Markets is not liable for losses that may occur because of a decision made after reading the information published on our research page or any other media.
Risk Warning: Trading the capital markets is risky therefore further knowledge and experience may be required. Apply appropriate risk and money management always and ensure the implementation of safe leverage.
Strategy:
Short against 1.1400, targeting 1.1000 and 1.0755
Legal Disclaimer: This article is not investment advice. The data provided is for marketing material purposes and is not intended to confuse nor guide our clients on trading decisions. Any investment activity performed is perceived to be a self-directed decision. Exclusive Markets is not liable for losses that may occur because of a decision made after reading the information published on our research page or any other media.
Risk Warning: Trading the capital markets is risky therefore further knowledge and experience may be required. Apply appropriate risk and money management always and ensure the implementation of safe leverage.
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.