EURUSD - Still bearish. Bulls coming?
The bears made new lows overall. Nice harmonics are in play, see lines. Price came into an area of support with an extended 1 to 1 harmonic completion touching the 113% Fib Extension on Nov12 at ~1.12166.
Right now the correction is happening with the bulls struggling to trade over the 38.20% Fib Correction at ~1.14456.
I am expecting the bulls to overcome this area and to trade higher into resistance levels around 50%-61.8% Fib. See structure to the left where the sellers came in earlier.
Overall I am expecting price to create new lows, as this is the expectation.
Will update this.
*DISCLAIMER: Forex, Futures , stocks and options trading involves substantial risk of loss and is not suitable for every investor.
None of the content published on this account constitutes a recommendation for investing your money. Trading is at your own risk.
Right now the correction is happening with the bulls struggling to trade over the 38.20% Fib Correction at ~1.14456.
I am expecting the bulls to overcome this area and to trade higher into resistance levels around 50%-61.8% Fib. See structure to the left where the sellers came in earlier.
Overall I am expecting price to create new lows, as this is the expectation.
Will update this.
*DISCLAIMER: Forex, Futures , stocks and options trading involves substantial risk of loss and is not suitable for every investor.
None of the content published on this account constitutes a recommendation for investing your money. Trading is at your own risk.
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