Euro / U.S. DollarShort
EURUSD corrective structure
Updated
I uploaded a new video with my weekly outlook to YouTube.
Although I anticipated another leg lower first, it seems like the corrective structure of lesser degree is already in place. Once that is over I will focus on the next sell opportunity because it looks like EURUSD is in a corrective structure of larger degree as well and in need of at least a move below 1.2150
I will update this post regurlarly, for context check out my YouTube channel (Tim Stuyts)
Although I anticipated another leg lower first, it seems like the corrective structure of lesser degree is already in place. Once that is over I will focus on the next sell opportunity because it looks like EURUSD is in a corrective structure of larger degree as well and in need of at least a move below 1.2150
I will update this post regurlarly, for context check out my YouTube channel (Tim Stuyts)
Note
guy's we see a potential consolidation for break and continuation lower. Keep in mind that price can take out 1.242 first, that would just mean a more significant consolidation before the break and more ideal set-up.Note
For those not yet in the short, this is not the time to look for sells (although I'm keeping mine for now). I like to see a correction of the current move lower. That will confirm that next target will be a break below 1.216ish and longer term a test of 1.1450.Remember my call months ago about this 1.145 level, we adjusted for an extension higher medium term but that is irrelevant for the bigger picture and only provides a better sell now.
Note
New weekly outlook uploaded to my YouTube page 04-02 - 04-06; 'Tim Stuyts'Happy Easter!
Related publications
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.