Euro / U.S. DollarShort
EURUSD consolidating before targeting below 1.1750
EURUSD has been drifting sideways for now and should find resistance around 1.1840/50 mark before it turns lower again. The currency is trading around 1.1845 mark for now and bears should be poised to break below 1.1750 support. This confirms a top in place around 1.2000 levels and that bears are here to stay longer. As discussed yesterday, we shall bring up a probable wave count after 1.1750 is taken out. The fibonacci 0.618 retracement around 1.1150 remains medium term target potential though. Good to sell on rallies.
Remain short, stop @ 1.2030 target @ 1.1150
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 @ 1.2030 target @ 1.1150
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.
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