Long EURUSD - 5th Wave
BULL CASE:
- Uptrend since 30th May
- Still a 5th wave remaining according to Elliot Wave
- Wave 4 bounced at 0.5 Fib, Wave 1 Resistance & Trend line Support
- Target is 1:1 extension for the 5th Wave
- SL is below Major Resistance
- R:R = 2.23
BEAR CASE
- Major resistance at 1.1820 - 1.840
- Downtrend since 19th Apr
Also, possible H&S formation if price reaches 1.1820 - 1.1840.
Thanks for reading, any feedback is appreciated.
- Uptrend since 30th May
- Still a 5th wave remaining according to Elliot Wave
- Wave 4 bounced at 0.5 Fib, Wave 1 Resistance & Trend line Support
- Target is 1:1 extension for the 5th Wave
- SL is below Major Resistance
- R:R = 2.23
BEAR CASE
- Major resistance at 1.1820 - 1.840
- Downtrend since 19th Apr
Also, possible H&S formation if price reaches 1.1820 - 1.1840.
Thanks for reading, any feedback is appreciated.
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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.