PooyaSalehipour

EUR/USD UPDATE: 1.11035 is the first target we must see

FX:EURUSD   Euro Fx/U.S. Dollar
321 5 21
Dear friends,

We are in a position increasing or decreasing the process depends on the behavior of traders. Almost, often traders do not know what's going on for EU in the coming weeks.
If we want to focus on the principles of technical and wave analysis, we must have two different ways to deal. However, in the present situation, seems upside wave to around 1.11035. This is the first target we must see. whether, the heavy resistance's fight to climb or not.

All the possibilities clearly shown in the chart.


Kind Regards,
Pooya Salehipour
Careful at that 1.11 level I am short there and a lot of other bears. and if there is any positive data like NFP the drop could happen quickly. The grind up is inevitable it will test the top of the first triangle break. Staying there whole different story. Still great chart i was starting to believe 1.11 may not happen.
+1 Reply
thanks for your comment. no one knows what euro going on. i think many traders on standby and waiting for under 1.1 for bearish confirmation. however, i am not an analysis of market. just mark all resistance and support point.
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AD4499 PooyaSalehipour
i agree i definitely do not know what is going on with the Euro because the drop was not based on fundamentals. Fundamentally speaking I was stating that 1.112 is strong resistance for bearish conformation and entry point of highest risk to reward ratio medium-term. As always price action will decide but as for what the chart says at that point the Euro strength may run out of steam.
+1 Reply
You have updated your chart. It did not look like this before. Right?
+1 Reply
Thanks for your comment. the last chart i upload is Daily and this chart based on 4H per candle.
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