EURUSD fell short by 30 pips and reversed from 1.0830 yesterday. It was well support by the resistance turned support trend line around 1.0830 handle. Immediate price resistance stands at 1.0990 and a break would be constructive for bulls. If Wave 2 has completed as a corrective flat around 1.0730 earlier, EURUSD should break above 1.0990 and continue to carve higher highs and higher lows. Alternately, a triangle consolidation, if unfolding as Wave 2, could be dropping into its last wave towards 1.0830 again before Wave 3 resumes higher. In short, EURUSD structure continues to remain bullish above 1.0636.
Strategy:
Long against 1.0636, targeting 1.1500 and 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 and 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.