EURUSD bulls aim resistance around 1.1480/90 now
EURUSD cleared past 1.1420 and bulls are poised to target higher towards 1.1490 from here. The risk-reward ratio to initiate long positions from here doesn't look appealing. We would rather wait for a potential top to be carved at above resistance to initiate potential shorts. The wave counts are as follows: EURUSD continues to print higher highs and higher lows since 1.0636. The recent low at 1.1167 could be potential Wave 4 termination and Wave 5 seems to be in progress. It is expected to terminate around 1.1480/90 as EURUSD is set to complete an impulse wave of one larger degree.
Remain flat for now.
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.
Remain flat for now.
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.
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.