Euro / U.S. DollarShort
EURUSD drifts sideways before pushing through 1.1900
EURUSD is drifting sideways and trading around 1.1814 levels for now. It is expected to push through 1.1900 handle before turning lower again. The currency had dropped from 1.1965 levels through 1.1754 as an impulse wave. The drop is being retraced and is expected to reach fibonacci 0.618 levels (1.1887) at least before finding resistance. Ideally, EURUSD is expected to stay below 1.1965 mark and continue lower towards 1.1150 levels after testing 1.1900 handle. Only a push through 1.1965 would change the above bearish view.
Remain short, stop @ 1.1970, target is open.
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 @ 1.1970, target is open.
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.
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