Euro / U.S. DollarShort
EURUSD bulls might soon unfold a counter trend rally to 1.1880
EURUSD has managed to print yet anther low around 1.1650 today. Since the overall trend remains bearish its difficult to predict a counter trend rally and safe would be to keep selling if intraday rallies materialize. Immediate resistance is seen towards 1.1914, while support comes in around 1.1600 mark respectively. Earlier, EURUSD had complete 5 waves rally from 1.0636 through 1.2010 respectively. It is underway to produce a corrective drop at least towards 1.1200 mark. Good to be sold on rallies from here on.
Remain short, stop above 1.2010, 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.
Remain short, stop above 1.2010, 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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