EURUSD--3rd of 3rd Wave Below 1.1050(Bulls--Be Careful)

Since 24th June 2016 --After making a low@1.09119...Eu bounced back till 1.1188 & was travelling in tight range -without any significant movement which was expected on upside..in form of a-b(triangle) & c-thrust which was expected. EU spent almost 2 days & never gave the required thrust as expected. Eventhough it made a high@1.1154--I am not convinced with this upside move. The fall from 1.1154 --I am keeping a close watch if goes below 1.1050--We should take selling opportunity which will become more strong if EU goes below 1.1034 level as well. In that case --I will take alternate bearish call in which I am expecting 3rd of 3rd wave to start downside--could be sizeable one...

In last buying opportunity--we just made 30-40 pips even though market moved 80--90 pips--That is all right till the time -we do not land on wrong foot.

Targets I shall update in comment section as & when with more price movement.

Regards,
Abhishek H. Singh, CMT

Trade active:

23:45 Hrs-- 30th June 2016---Resistance of 1.1155 should be set as stoploss in sell taken at 1.1050 & Below...Keep Booking Partial Profits ...One such zone shall be 1.0995 to 1.1000 & re-enter if you get some bounce with strict stop loss@1.1155- A Tick Above...Regards, Abhishek

Comment:

23:45 Hrs--30th June 2016---Last Price--1.1070...Recent Low of the US session was 1.1024. Regards, Abhishek

Trade active:

13:30 Hrs--EU is just moving up down --up down not giving clear direction...this happens only in triangle formation...we shall remove our short position very close to our entry zone 1.1050--1.1080...Once we get a chance...Because it is most likely if 1.1024 is intact ....we will flip our position to buy side with a stop -a tick below 1.1024 for Triangle Thrust Target of 1.1230--1.1250.. Regards, Abhishek

Trade active:

17:30 Hrs --1st July 2016:

Before EU starts falling ...Probably below 1.1024 & 1.0970 ....Key Levels.....We will thrust upside in the form of C- Wave & As Triangle -B Wave formation is still open --giving us conservative target in C-wave as 1.1240--1.1260 & Extension Above 1.1260 ...can give us target 1.1340--1.1350.. Before that we shall first exit our short trade taken at 1.1050 & should flip our position for above targets...then we will flip back to sell--once larger E-wave is done as per earlier updates. Regards

Trade active:

20:15 Hrs-st July 2016
Floor Level -1.1070 should be intact for current upside rally--incase it is breached...we shall only trade future when 1.09119 is broken for larger targets....till the the time-1.1070 is intact --we shall look for higher targets ...Regards

Trade active:

09:00 Hrs--5th July 2016--- EU is dangerously moving upside in a wedge pattern --these patterns shock bulls...I am sure EU is gonna fall...The only question is when?...Current Price--1.1130....Any move below 1.1095 & sustaining below 1.1075 will give confidence --one thing to note if price falls suddenly...note it should not cross its recent high...so we can enjoy the fall...& if it breaks 1.0970...that will add spice as well...Regards, Abhishek