EURUSD inverted Head and shoulder. Long Set up
Updated
The Eurusd has a head and shoulder set up which looks to be completing after today's fomc rate hike.
Combine that with the first phase of an elliot wave Long opportunity. and we might be looking at a Bullish move in price action.
a break above 1.08 is confirmation of these analysis for overall movement to the 1.13 price range
Combine that with the first phase of an elliot wave Long opportunity. and we might be looking at a Bullish move in price action.
a break above 1.08 is confirmation of these analysis for overall movement to the 1.13 price range
Note
Price approaching my target, watch out for false break-out, once price has broken and retested the level above 1.0810. I'll take an entry positionNote
Long Position now active. Take Profit: 1.114. At this resistance level we should see a strong retracement back to our current level of 1.08.
Alternatively if the Short Position is to Prevail a close below 1.074 will signal opportunity to take Open Short Positions
Note
Trade closed at 1.089
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.