EURUSD is starting Elliot C-corrective Wave [Trade Canceled]

------Update 13/05/15 01:00 CEST-------

Wednesday publications could lead to important movement on this pair. I recommend not to trade this idea.

Best Regards,
Serge

------End Update-------

Hi workmates !


The impulse long wave of EURUSD seems to have some trouble to cross over 1.13-1.14 zone. According to Elliott Wave theory we are starting the C-correction wave with a clear Head & Shoulders pattern forming on 4H view. Moreover MACD is close to reversing down below neutral line. A break of 1.12 level could lead to some more bearish trend on EURUSD.


Trade setup :
Enter Short at 1.120
Stop loss at 1.129
TP1 at 1.11
TP2 at 1.0965



Best Regards,
Serge