movingwfx
Long

Possible Long Setup on EURUSD

FX:EURUSD   Euro / U.S. Dollar
57 0 0
Greeting traders,

Referring to the chart above, there's a possibility of good long setup for EURUSD             .

Reasons are:
1) Wave 5 of Elliot waves
2) Bullish shark pattern
3) Price is hovering over demand zone = support level
4) Price is currently at 38% fib retracement (wave 1 to wave 3)

Take profit zone
1) 1st supply zone = the same length of wave 1
2) the 2nd level of supply zone = 1.62 extension of wave 1

Ps: Please do not take this as a trading signal. This is just our thoughts on how the market might move based on technical analysis .

"Trade what you see"

Have a pleasant.

Cheers,
Movingwfx
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