EUR/USD - Corrective Bearish Trend
Updated
As per the previous Analysis, EUR/USD has completed the ABC Minor Waves (blue) and with that, the Intermediate Wave W (black).
Minor Wave C has confirmed the expected Bearish Divergence and EUR/USD turned towards the Bearish side.
Expectations are for an ABC deep Correction towards Intermediate Wave X (black).
Minor Wave A (red) has stated and has been confirmed, breaking the Trendline.
There is also a very possible Head and Shoulders pattern which means that most likely Minor Wave B (red) could pose as the Right Shoulder, before the deeper weakness.
Entries:
Aggressive - 1.07250
Conservative - 1.07700
SL - 1.08300
TP - 1.05200
Minor Wave C has confirmed the expected Bearish Divergence and EUR/USD turned towards the Bearish side.
Expectations are for an ABC deep Correction towards Intermediate Wave X (black).
Minor Wave A (red) has stated and has been confirmed, breaking the Trendline.
There is also a very possible Head and Shoulders pattern which means that most likely Minor Wave B (red) could pose as the Right Shoulder, before the deeper weakness.
Entries:
Aggressive - 1.07250
Conservative - 1.07700
SL - 1.08300
TP - 1.05200
Trade closed: target reached
Target ReachedTrade closed: target reached
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