EURUSD has dropped lower in line with our expectations. The currency pair had earlier registered a high around 1.1019 levels before pulling back. A lower degree corrective Wave ii might be unfolding since 1.1019 highs, and is expected to terminate through 1.0830/40 levels before Wave iii resumes higher. Structurally EURUSD has managed to carve Wave 1 and 2 at 1.1150 and 1.0730 levels respectively, after carving a meaningful low at 1.0636 earlier. Wave 3 is unfolding since 1.0730 and is projected towards 1.1500 resistance. EURUSD remains a buy on dips towards 1.0830/40 levels and intraday resistance is seen around 1.0950 respectively.
Strategy:
Long against 1.0636, targeting above 1.1500
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 above 1.1500
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.