EURUSD might reverse from 1.1860 or 1.1950/60
EURUSD is taking its time to carve Wave 2. In case of an expanded flat, the recent rally could push towards 1.1930/60 in the next few trading sessions. If it reverses from current levels and breaks below 1.1837, it would confirm Wave 2 termination around 1.1860. Either way, EURUSD remains good to sell on rallies. Potential Wave 1 is already in place between 1.2010 and 1.1754 earlier. Once Wave 3 begins to unfold, EURUSD should be heading lower towards 1.1400 at least.
Remain short for now, stop @ 1.2040, 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 for now, stop @ 1.2040, 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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