Euro / U.S. DollarShort
EURUSD heading towards 1.0930 and further
EURUSD has reversed from 1.1365/70 levels yesterday, and might be preparing to drop towards 1.0930 at least. It has held below 1.1420 highs as well, which add further confidence to the bearish setup. The potential wave counts from 1.1400 are: Drop from 1.1400 towards 1.1167 could be probable Wave 1/A, while the subsequent rally towards 1.1365 is Wave 2/B. If the above is count is correct, EURUSD should hold below 1.1365, going forward. The lower degree probable wave counts are: The drop from 1.1365/70 is in 3 waves until today's low at 1.1260. A potential lower degree wave iv might be unfolding as a triangle. A complete impulse drop will confirm a meaningful top in place at 1.1365/70.
Remain short, stop @ 1.1420, target @ 1.0900 and further.
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 @ 1.1420, target @ 1.0900 and further.
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.