Euro / U.S. DollarShort
EURUSD faces initial resistance around 1.1940/50
EURUSD might be working on a counter trend rally unfolding potential wave iv of 3 lower towards 1.1700 levels. The fibonacci 0.382 retracement is seen towards 1.1940/50 mark along with previous support zone (potential resistance now). Bearish reaction is expected and prices might turn lower again towards 1.1700, 1.1600 going forward. Only a push above 1.2000 might open other alternate counts. Higher probabilities remain towards selling on rallies for now.
Remain short against 1.2350, towards 1.1600
Remain short against 1.2350, towards 1.1600
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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.