EURUSD counter trend in progress towards 1.1920
EURUSD trades 1.1830 for now, after printing 1.1754 yesterday. The currency confirms a major top in place around 1.2010 and also Wave 1 termination. The fibonacci 0.618 retracement is seen towards 1.1920/30 zone and ideally Wave 2 would be pushing towards that mark. Once complete, EURUSD should reverse lower again as Wave 3 unfolds. The currency remains in control of bears until 1.2010 is intact. Good to sell on rallies.
Remain short, stop @ 1.2030, target is open.
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 short, stop @ 1.2030, target is open.
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.
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