EURUSD has completed a significant upward move, marking the end of wave (5) on the 15-minute chart. This suggests a potential corrective phase is about to begin, offering a shorting opportunity.
Key Fibonacci retracement levels to monitor during this anticipated pullback:
1.10106 (38.2% Fibonacci retracement)
1.10051 (50% Fibonacci retracement)
1.09995 (61.8% Fibonacci retracement)
These levels provide potential targets for the corrective wave (a) as the market retraces from the recent highs. Traders looking to enter short positions should keep these levels in focus, applying careful risk management strategies. As always, confirm the setup with additional technical signals before committing to a trade. Happy trading!
Key Fibonacci retracement levels to monitor during this anticipated pullback:
1.10106 (38.2% Fibonacci retracement)
1.10051 (50% Fibonacci retracement)
1.09995 (61.8% Fibonacci retracement)
These levels provide potential targets for the corrective wave (a) as the market retraces from the recent highs. Traders looking to enter short positions should keep these levels in focus, applying careful risk management strategies. As always, confirm the setup with additional technical signals before committing to a trade. Happy trading!
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.