In our previous analysis, we were EURUSD bearish, and although we are trading about 2 cents higher now than when that analysis was published, we are still convinced that these high hills are shortable.
The pair, in our opinion, has finished a complete 5-wave Elliott formation earlier this week, and we prefer the short, with 2 targets that seem particularly interesting:
1. The flat correction target around 1.1065
2. The bottom of wave 4 of a lesser degree, at 1.0733, which is equal to, exactly & down to the pip, to the 61.8% retracement for the whole 5-wave sequence!
We will continue to be bearish for as long as 1.1704 is not clearly penetrated.
Whether the price penetrates 1.1704 & we give up, or, the market moves into our profit zone, we will post updates every week or so. Stay tuned!
The pair, in our opinion, has finished a complete 5-wave Elliott formation earlier this week, and we prefer the short, with 2 targets that seem particularly interesting:
1. The flat correction target around 1.1065
2. The bottom of wave 4 of a lesser degree, at 1.0733, which is equal to, exactly & down to the pip, to the 61.8% retracement for the whole 5-wave sequence!
We will continue to be bearish for as long as 1.1704 is not clearly penetrated.
Whether the price penetrates 1.1704 & we give up, or, the market moves into our profit zone, we will post updates every week or so. Stay tuned!
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Paid4X.com
Get Paid!
Get Paid!
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.