Euro / US-DollarShort
EURUSD intraday support seen towards 1.1790/95
EURUSD might be still working on its counter trend rally to terminate potential Wave 2. The expected zone for termination stays around 1.1920/30 levels, going forward. Having said that, the currency remains in control of bears and is safe to sell on rallies towards the above. Alternately, if EURUSD breaks below 1.1737 from here, it will confirm that Wave 2 is in place below 1.1900 handle and Wave 3 is underway towards 1.1500 at least. A bullish bounce from around 1.1790 would indicate there is still one more push left on the higher side. Overall, good to sell on rallies.
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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