EURUSD is testing resistance around 1.1320.30 at the moment. A push towards 1.1350 would encourage further rally but resistance should be strong around 1.1370/80. The June 10, high around 1.1420 remains critical for the next move and EURUSD should stay below to keep the bearish structure intact. A break below 1.1167 would be required to accelerate further towards 1.1000. A bearish stance against 1.1420 would be a favored strategy in the short term at least. Looking at the wave counts, the rally from 1.0636 through 1.1420 is in 3 waves and could be corrective. A push through 1.1420 would confirm that EURUSD bulls are wanting to complete an impulse wave.
Strategy:
Short against 1.1420, targeting below 1.0636.
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 1.1420, targeting below 1.0636.
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.