EURUSD dropped to yet another shallow lows around 1.1721 today before pulling back. Only a break above 1.1872 would confirm that the counter trend is still underway towards 1.1940/50 mark. A failure to break would confirm that EURUSD has Wave 2 in place around 1.1872, triangle termination. Since the lows are extremely shallow, possibilities still remain for meaningful pullback/counter trend rally to materialize. Overall EURUSD remains sell on rallies, the higher the better. Counter trend rallies could be played by aggressive traders but they always carry risk.
Remain short, stop above 1.2010, target is open
Risk Disclaimer:
Trading Forex or any CFD products may not be suitable to all investors and they must evaluate their risk appetite. The above article should not be construed as a trading or investment advice as it is solely for education and information purpose only. Trading might incur a loss of capital and hence investors might be required to gain further knowledge regarding the risks involved. Leverage should be used wisely.
Remain short, stop above 1.2010, target is open
Risk Disclaimer:
Trading Forex or any CFD products may not be suitable to all investors and they must evaluate their risk appetite. The above article should not be construed as a trading or investment advice as it is solely for education and information purpose only. Trading might incur a loss of capital and hence investors might be required to gain further knowledge regarding the risks involved. Leverage should be used wisely.