EURUSD has managed to carve a lower top around 1.1948 mark today. If this holds, EURO could reverse sharply lower from here at least towards 1.1400 levels if not further. At a larger degree, the impulse wave that had begun from 1.0636 in March 2020 seems to be complete at 1.1965. Also note that the entire could be a part of correction and potential trend might reverse from here. Both ways, EURUSD should be looking to top and reverse from current levels or after printing a marginal high above 1.1965 going forward. Good to sell on rallies.
Remain short, stop @ 1.1970, 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 @ 1.1970, 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.