EURUSD might have carved a potential Wave 2 around 1.1850 yesterday. It needs to break below 1.1700 handle to confirm with respect to price action though. If the above unfolds, it would confirm that EURUSD has topped and is pushing lower towards 1.1350/60 levels going forward. Another alternate is that of a triangle though, which points towards yet another high above 1.1915. We do favor the bearish count for now and wait for a break below 1.1700 to confirm.
Remain short, stop @ 1.1970, target is open.
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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 @ 1.1970, 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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