Price has been in a correction from its daily/weekly bullish trend for quite sometime now, however it looks like we may have one more opportunity to go short before this run is over.
From an Elliot Wave analysis, we have completed legs 1,2,3 which were followed by a 4H Flag/complex correction. Now price seems to be ready to complete wave 5 after rejecting recent intraday-highs.
Safe target for this short trading idea would be the 0.7500 area which is a natural support level as well as the most conservative fibonacci extension
From an Elliot Wave analysis, we have completed legs 1,2,3 which were followed by a 4H Flag/complex correction. Now price seems to be ready to complete wave 5 after rejecting recent intraday-highs.
Safe target for this short trading idea would be the 0.7500 area which is a natural support level as well as the most conservative fibonacci extension