The 30-minute chart of EUR/USD on FXCM is currently showing a potential short opportunity. The pair appears to be in the process of completing a corrective wave (b) and is expected to proceed to wave (a) target levels.
Key Levels:
Wave (b) Retracement: 0.885 (1.11300)
Wave (a) Fibonacci Levels:
0.124 (1.11099)
0.382 (1.10627)
0.5 (1.10411)
0.618 (1.10194)
Traders may consider entering short positions with a target towards the wave (a) levels, especially around the 0.382 to 0.618 Fibonacci retracement levels, which indicate potential support zones. Stop losses could be placed above the recent high to manage risk effectively.
Key Levels:
Wave (b) Retracement: 0.885 (1.11300)
Wave (a) Fibonacci Levels:
0.124 (1.11099)
0.382 (1.10627)
0.5 (1.10411)
0.618 (1.10194)
Traders may consider entering short positions with a target towards the wave (a) levels, especially around the 0.382 to 0.618 Fibonacci retracement levels, which indicate potential support zones. Stop losses could be placed above the recent high to manage risk effectively.
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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.