EURUSD seems to be close to completing an impulse wave from 1.1915 highs. A push below 1.1700 would be encouraging for bears and EURUSD would be good to sell on rallies thereafter. At the moment it is seen to be trading close to 1.1750/53 and is expected to break lower towards 1.17 to terminate the 5th wave. At a larger degree, EURO might have completed an expanded flat corrective wave around 1.1915 levels. If the above is correct, the currency should be turning lower towards 1.1167 in the near term. Alternately, EURUSD might push above 1.1915 to print yet another high,and complete the expanded flat structure. Either way, should resume lower soon from here.
Remain flat, stop @ 1.1960, target @ 1.1167
Risk Disclaimer:
Trading Forex or any CFD products may not be suitable to all investors and they must evaluate their risk appetite. The above article should not be construed as a trading or investment advice as it is solely for education and information purpose only. Trading might incur a loss of capital and hence investors might be required to gain further knowledge regarding the risks involved. Leverage should be used wisely.
Remain flat, stop @ 1.1960, target @ 1.1167
Risk Disclaimer:
Trading Forex or any CFD products may not be suitable to all investors and they must evaluate their risk appetite. The above article should not be construed as a trading or investment advice as it is solely for education and information purpose only. Trading might incur a loss of capital and hence investors might be required to gain further knowledge regarding the risks involved. Leverage should be used wisely.