After Brexit vote and a spike in EUR, we retraced the move the next day. Now seems like a H&S is forming with divergence. Proper support in terms of the trend line 200SMA and 1.11 area. Elliott waves suggest the final leg of retracement in wave (c).
PMI data coming in this morning from Europe this morning. Negative numbers would give more probability to this trade. 1st confirmation is the close of the nice bearish candle on 1 hour. 2nd at the test of support and break.
Good Luck and have a great trading week!
PMI data coming in this morning from Europe this morning. Negative numbers would give more probability to this trade. 1st confirmation is the close of the nice bearish candle on 1 hour. 2nd at the test of support and break.
Good Luck and have a great trading week!