EURUSD breaks the 1.1200 level as we prepare to publish this update. The hourly chart wave counts are as follows: EURUSD might have formed a top at 1.14. The drop could towards 1.1167 could be potential Wave A. Subsequent rally through 1.1350 could be Wave B and Wave C or 3 might be underway towards 1.0930. It remains to be seen whether the drop unfolds further or not. Resistance should be strong at 1.1350 and prices should stay below that mark, going forward. A break below 1.1167 would accelerate the drop, so good to remain short.
Remain short with stop @ 1.1400, target @ 1.0930 at least.
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 with stop @ 1.1400, target @ 1.0930 at least.
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.