EURUSD continues to correct as it prints low at 1.0816 levels today. It is still within the expected range discussed yesterday @ 1.0800/30 levels. We still consider the rally between 1.0636 and 1.1150 to be Wave 1, while Wave 2 potential at 1.0730 levels. It is quite possible that Wave 2 is still unfolding and can produce a more complex structure. All said and done, bottom line remains that prices should stay above 1.0636 to keep the bullish structure intact. A break above last Friday highs at 1.1019 would confirm that EURUSD is heading towards 1.1500 and higher.
Strategy:
Long against 1.0636, targeting 1.1500/1.1600
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:
Long against 1.0636, targeting 1.1500/1.1600
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.