EURUSD Rejection from Range Top
Just like the dollar, EURUSD was rejected from an extreme high near the top of a 4-year range, also after completing the 5th Elliott wave.
Last week, EURUSD found support and rebounded off from the current range bottom at 1.2050 which also caused a break above of a falling trendline.
And again, just like early 2018, we expect the price to range further and thus a rejection from the range bottom signals us to look for buying opportunity.
We shall look for buying opportunity until it either breaks below the current rising trendline (around 1.2120) or climbs and reaches 1.2285.
Last week, EURUSD found support and rebounded off from the current range bottom at 1.2050 which also caused a break above of a falling trendline.
And again, just like early 2018, we expect the price to range further and thus a rejection from the range bottom signals us to look for buying opportunity.
We shall look for buying opportunity until it either breaks below the current rising trendline (around 1.2120) or climbs and reaches 1.2285.
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