EURUSD - Still Respecting Rising Channel

We analysed EURUSD few days back and it was highlighting a Bullish move which was completed and priced retraced from exactly the resistance highlighted. If we analyse the elliot waves, it shows that Bullish wave was completed and now the price is in Correction mode.

From here, it is highly likely that we should see a Wave B which should give us an optimum entry to short price to Wave C. Having said this, be mindful that if the price doesn't respect above resistance levels, it may break higher however it will depend on upcoming news and market sentiments.

Best approach is to go from level to level rather than aiming for a swing move as sentiments can switch anytime.

For entries, please wait for at least two candle reversals at the specified level and apply appropriate risk management.

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Disclaimer: This content is for educational purposes only and should not be considered financial advice.