Will EURUSD continue up or is it likely to fall again?
Hi traders,
EURUSD is still in a larger correction (wave 4 or wave 2). Last week we said a small correction and then lower. Instead EURUSD made a bigger correction (wave B of the bigger ABC-correction). We think wave B will be a running flat.
Now we wait for the correction untill fibs 50.0-61.8 which has confluence with fib extension 1.618 (ab of wave B) and a supply level. After that we look for sells for the completion (wave C) of the bigger correction.
If you want to learn more about trading with supply and demand and wave analysis, please make sure to follow us, give a like and comment.
This shared post is only our point of view on what could be the next move in this pair based on our analysis. We do not provide signals.
Don't be emotional, just trade!
Eduwave Trading
EURUSD is still in a larger correction (wave 4 or wave 2). Last week we said a small correction and then lower. Instead EURUSD made a bigger correction (wave B of the bigger ABC-correction). We think wave B will be a running flat.
Now we wait for the correction untill fibs 50.0-61.8 which has confluence with fib extension 1.618 (ab of wave B) and a supply level. After that we look for sells for the completion (wave C) of the bigger correction.
If you want to learn more about trading with supply and demand and wave analysis, please make sure to follow us, give a like and comment.
This shared post is only our point of view on what could be the next move in this pair based on our analysis. We do not provide signals.
Don't be emotional, just trade!
Eduwave Trading