Euro / U.S. DollarShort
EURUSD - SELL IDEA
On the 15-minute chart for EUR/USD, we can see a completed five-wave pattern suggesting that the pair is likely to enter a corrective phase. This setup indicates a potential short opportunity as the price retraces the recent gains.
Key levels to watch include:
- The Fibonacci retracement levels of the move, particularly the 0.5 level at 1.11498 and the 0.618 level at 1.11376, which are common targets for a wave (a) in a corrective ABC structure.
Given the current market dynamics, a short position might be favorable as the pair corrects lower, aiming for the mentioned Fibonacci levels.
Key levels to watch include:
- The Fibonacci retracement levels of the move, particularly the 0.5 level at 1.11498 and the 0.618 level at 1.11376, which are common targets for a wave (a) in a corrective ABC structure.
Given the current market dynamics, a short position might be favorable as the pair corrects lower, aiming for the mentioned Fibonacci levels.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.