EURUSD might have terminated its 5th wave rally towards 1.1965 levels. We were giving more room towards a test of 1.2000 handle but seems like a potential top is in place. Immediate support is seen around 1.1780 mark and bears might be poised to break lower to confirm a top in place. It would be a good strategy to sell on rallies thereafter, for a target towards 1.1167 at least. EURUSD could at least produce a corrective drop if not a change in trend and find support towards the 1.1167 handle going forward.
Remain short, stop @ 1.1990, target @ 1.1167
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 @ 1.1990, target @ 1.1167
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.