EURUSD hourly chart is again presented here for a short term view before the rally resumes towards 1.1500. The rally between 1.0730 through 1.0888/90 could still be marked as lower degree wave i on chart. EURO could still drop towards 1.0790, an expanded flat corrective structure to terminate wave ii. Also note a convergence of fibonacci 0.618 retracement along with the back side of resistance trend line around 1.0780/90. A bullish reversal should be expected, if prices manage to reach the above levels. Overall structure remains a buy on dips, as long as EURUSD stays above 1.0636, going forward.
Strategy:
Long against 1.0636, targeting 1.1500 and 1.1600.
Legal Disclaimer: This article is not investment advice. The data provided is for marketing material purposes and is not intended to confuse nor guide our clients on trading decisions. Any investment activity performed is perceived to be a self-directed decision. Exclusive Markets is not liable for losses that may occur because of a decision made after reading the information published on our research page or any other media.
Risk Warning: Trading the capital markets is risky therefore further knowledge and experience may be required. Apply appropriate risk and money management always and ensure the implementation of safe leverage.
Strategy:
Long against 1.0636, targeting 1.1500 and 1.1600.
Legal Disclaimer: This article is not investment advice. The data provided is for marketing material purposes and is not intended to confuse nor guide our clients on trading decisions. Any investment activity performed is perceived to be a self-directed decision. Exclusive Markets is not liable for losses that may occur because of a decision made after reading the information published on our research page or any other media.
Risk Warning: Trading the capital markets is risky therefore further knowledge and experience may be required. Apply appropriate risk and money management always and ensure the implementation of safe leverage.
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.