Short

EURUSD: Sell opportunity for an ABC correction move or 123 waves

Updated

EURUSD is creating a sell opportunity again. It made a sharp move down from the top for almost 390 pips and broke the structure, previous low. There is a possibility that we had a truncated 5-th wave on 16-02-2018 at price 1.2555. I am looking at it on this way because if we take into consideration the time factor of 4-th wave it will tend to be the same with the 2-d wave. So if we consider the break of the top we are inside a bigger correction that is double in time compared with the 2-d wave correction move. I am not ruling out the possibility for a higher high but up to now i can see only a move to downside and we are on the resistance zone. If we will see a higher high i am looking for the second red box to sell again as we have also the resistance of the weekly trend line coming form upside. This is only my personal opinion.

Good Luck!

Note

Daily forecast

Note

Note

After 150 pips down move price is testing 200 EMA and we can see a potential correction from here or a continuation move to downside . If you sold it from the top you can take 1/2 of your profits and let the other part run. SL at BE. Just for reminder.

Note

Just be careful as price touched Daily 200 EMA and we can see a correction move up from here.

KlejdiCuni

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