Hellena | EUR/USD (4H): Long to resistance area at 1.09299.

Dear colleagues, I have redrawn the waves and realised that the downward movement is wave C in a correction. This means that very soon we will see the resumption of the upward movement.
I suppose that the price will reach the resistance area at 1.09299. Until then, I expect the end of the formation of wave 5 of lower order in the area of 1.07868.

Manage your capital correctly and competently! Only enter trades based on reliable patterns!

Bình luận:

I suppose that the price will still update the low and form wave 5. Given the general downtrend, this is the most likely scenario. But do not forget that the main target is at 1.09299.

Bình luận:

The price resumed the downward movement and is testing the support area at 1.07868. Based on the new data, the price may slightly break this area, but within the forecast.
This means that from now on I consider only long positions. Be careful and follow the updates.

Bình luận:

After today's analysis I make a decision to close a long position, because the price is very likely to resume downward movement.
There is also a possibility to transfer trades to breakeven or close part of trades and wait for possible achievement of the initial target.