SKACAPITAL

EURUSD Waiting for the Long Trade

FX:EURUSD   Euro / U.S. Dollar
EURUSD             looking bearish on the opening of the market. All about patience. We will wait for the Long setup for the swing trade and day trade for the short setups. As outlined on the chart we have safety levels set up to help us determine in which way the market will move.

If Price breaks and closes below 1.11200 then we can see down side movement to the "D" Extension 1.1000. However, if we see bullish price movement at price level 1.11200 then we can expect a bullish harmonic pattern back up to our achieved target. If this does happen then we would re analyse the chart to see whether it is a good short trade down to 1.1000 or a continuation to the upside.

The Final setup would be if price breaks and closes above the 200 EMA and the "Neutral Zone" then we would see further bullish momentum up to our achieved target then possibly higher.

I have been stating for months that EURUSD             target is 1.2000. However, due to uncertainty and manipulative data I do not know exactly know how long it would take to hit this level. But It is possible for this pair to see 1.1000 once more before it moves up.
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