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EURUSD drifts lower to 1.1815 levels. Critical to crack 1.1700
EURUSD had pullback towards 1.1815 levels, low for the day. We still need to see it breaking below 1.1700 levels to confirm a top in place at 1.1915. Probabilities remain high for a bearish reversal, going forward. Even if EURO manages to print above 1.1915, the rise should be limited. The larger degree wave structure is suggesting that EURUSD might have completed an expanded flat corrective wave around 1.1915, or is close to completing soon. Once complete, EURUSD should be heading lower with near term target as 1.1167 support.
Remain short, stop @ 1.1960, target is below 1.1167
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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 @ 1.1960, target is below 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.
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