EURUSD might have carved a potential top around 1.1915 mark but needs to break below 1.1700 to confirm. Alternately, it could be within a triangle consolidation before rallying higher above 1.1915 mark. If the drop from 1.1915 through 1.1711 is Wave 1 and subsequent rally towards 1.1850 is Wave 2, EURUSD would break below 1.1711 as Wave 3 progresses. In case of a triangle, prices would stay above 1.1711 and turn higher from 1.1750/60 zone. Either way, a top is close and selling on rallies are favored.
Remain short stop @ 1.1970, target @ open.
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 @ 1.1970, target @ open.
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.