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Zonayed

EURUSD SHORT Opportunity

Short
Euro / U.S. Dollar (FX:EURUSD)  
Zonayed Updated   
FX:EURUSD   Euro / U.S. Dollar
Trend Analysis Chart Patterns Wave Analysis
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trendanalysis chartpattern waveanalysis
EURUSD has most likely formed a Contracting flat pattern ( Elliott Wave ), which is a Trend continuation pattern. From this perspective, a Low Risk, High Reward position can be opened. The previous Daily, Weekly trend is Short. If Pattern remains valid, downtrend will continue and price will continue downward from here. Pattern/ Trade Idea will get invalidated at price 1.1060 ish . Target should be set around 1.0000.
Trade with proper risk assessment.
This is only a trade idea. Use other confluences that you may deem fit according to your own trading style.
Good Luck.
Peace.
Comment:
So we have closed our trade at 1.0795 area. We are watching PA. If price bounces from here we will trade again after carefully analyzing the PA.
So, trade responsibly.
Peace.
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