EURUSD potential top in place around 1.2010 handle
EURUSD has reversed sharply after hitting 1.2010 yesterday. The currency has dropped over 150 pips and is seen to be trading around 1.1865 for now. It is expected to break below 1.1754 mark and confirm a top is in place. As discussed earlier, a 5 wave rally from 1.0636 lows in March 2020, looks complete around 1.2010. If the count is correct, we should witness at least a corrective drop towards 1.1167, the previous Wave 4 of one lesser degree. High probability remains that EURUSD has turned lower from 1.2010 levels. Good to sell on rallies, going forward.
Remain short, stop @ 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 @ 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.