EURUSD short term counts are as follows: The drop between 1.1420 and 1.1167 could be Wave 1 or A. The subsequent rally towards 1.1350, is potential Wave 2 or B. Also note the Wave 2 had reversed form the fibonacci 0.618 retracement of Wave 1 (not shown today). It is quite possible that EURUSD may test 1.1350 levels before reversing, and in that case Wave 2 would be termed as a more complex corrective structure. Since carving potential Wave 2, EURUSD might have carved lower degree waves i and ii as well (not labelled). If the above structure holds well, EURO should stay below 1.1350 and broadly below 1.1420, going forward.
Remain short, 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, 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.