EURUSD has most likely carved a lower degree wave ii (not labelled here), as a combination w-x-y, above 1.1300 handle today. The currency is seen to be trading around 1.1282 levels around this time of publishing and could soon resume lower towards 1.0900. Immediate resistance remains intact around 1.1350 handle and the above wave structure remains intact until prices stay below that handle. We still favor a bearish EURUSD count against 1.1422 highs and probability remains for a push below 1.0636 as well. Interim support remains at 1.1167 and a break below would accelerate the drop further.
Strategy:
Short against 1.1422, targeting below 1.0636.
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:
Short against 1.1422, targeting below 1.0636.
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.