EURUSD has managed to drop from 1.1450 levels in a corrective manner until now. This leaves room for a further push through 1.1500 levels before resuming lower. Alternately, if EURUSD manages to complete an impulse drop, it would confirm that a meaningful top is in place around 1.1450; we shall update accordingly. The wave structure since 1.0636 lows might be wanting to complete an impulse towards 1.1500 or it is complete at 1.1450 already. Either way, upside remains limited from here while room for a corrective drop is huge. We favor a bearish reversal either from here or from 1.1500 mark as EURUSD seems to be completing 5 waves.
Strategy:
Aggressive traders remain partially short, add further towards 1.1480/90, stop at 1.1550 target is open.
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:
Aggressive traders remain partially short, add further towards 1.1480/90, stop at 1.1550 target is open.
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.