FX:EURUSD   Euro / U.S. Dollar
If you have been following me for last few days I highlighted this short trade. The retracement wend little too deep compared with the one I suggested earlier. However, here it the thing.We have 88.6% Fib retracement to the upside, wave c is x 261.8 fib of wave a and we have hit the median pitchfork line at supply zone after high printed on new event and potential Hidden Divergence between price and RSI on Hourly chart. Trade could be initiated at relatively low risk using your Money Management rule or on break of the minor up trendline. Potential target is 1.2840 - 1.2800. If this is an intermediate top then there will be plenty of time to enter the trade on pull backs with manageable risk


The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.