If we look at EURUSD now, we can see a nice BULLISH movement which could be a nice bullish movement up to a strong resistance level @1.1260. From Elliot Wave perspective, what I am seeing now is wave 5 occurring.
So when to sell EURUSD?
After we see a nice rejection off the resistance level or rejection hinting us wave A forming we can trade the retracement back to 61.8 fib level also where I think wave C will end. At that level, we can also see a rather strong support level which we have to take note for further downtrend. If we see a nice rejection off 61.8 fib level heading for the BULLISH, we can trade the bullish uptrend continuation. BUT if we see a breakout at that level, be prepared for a bigger BEARISH continuation. As for now, I will trade till 61.8 fib level, will update all of you again.
Kindly hit the LIKE Button if you agree with my analysis and feel free to COMMENT your idea below. As for those who are keen to get daily updates and analysis from me feel free to FOLLOW me. Cheers and Happy Trading!!!
So when to sell EURUSD?
After we see a nice rejection off the resistance level or rejection hinting us wave A forming we can trade the retracement back to 61.8 fib level also where I think wave C will end. At that level, we can also see a rather strong support level which we have to take note for further downtrend. If we see a nice rejection off 61.8 fib level heading for the BULLISH, we can trade the bullish uptrend continuation. BUT if we see a breakout at that level, be prepared for a bigger BEARISH continuation. As for now, I will trade till 61.8 fib level, will update all of you again.
Kindly hit the LIKE Button if you agree with my analysis and feel free to COMMENT your idea below. As for those who are keen to get daily updates and analysis from me feel free to FOLLOW me. Cheers and Happy Trading!!!
