EURUSD daily wave count
EURUSD made 5 waves down from 1.40 to 1.045
It is currently trading wave c in correction
There is a bullish cross of moving average on daily chart
Today price reacted very close to trend channel, if it breaks above channel 1.1620, it could go up to 1.27.
This would be wave B target 1.27 (0.618 fibo)
or even a wave 2 going to 1.315 (0.764 fibo)
For a bearish view, we need a bearish moving average cross and price below 1.12 for breaking correction channel
There is a critical level in dollar index, it could be support for dollar and bearish for eurusd
Trades
Buy above channel 1.16200
Sell below 1.12000
EURUSD made 5 waves down from 1.40 to 1.045
It is currently trading wave c in correction
There is a bullish cross of moving average on daily chart
Today price reacted very close to trend channel, if it breaks above channel 1.1620, it could go up to 1.27.
This would be wave B target 1.27 (0.618 fibo)
or even a wave 2 going to 1.315 (0.764 fibo)
For a bearish view, we need a bearish moving average cross and price below 1.12 for breaking correction channel
There is a critical level in dollar index, it could be support for dollar and bearish for eurusd
Trades
Buy above channel 1.16200
Sell below 1.12000
