Euro / Dollar ASPenjualan
EURUSD rallies through resistance around 1.1320/30
EURUSD rally from Friday lows (1.1250) through 1.1336 today could be seen as counter trend. It has found resistance around the fib 0.618 retracement of earlier drop between 1.1370 and 1.1250. Potential wave counts are as follows: Earlier drop from 1.1400/20 through 1.1167 could be potential Wave 1, followed by a corrective rally towards 1.1370 as Wave 2. If the above cunts are correct, EURUSD should ideally stay below 1.1370 and proceed lower through 1.0930 at least. Further, EURO might have carved lower degree wave counts i and ii around 1.1250 and 1.1336 respectively. Overall, we favor a bearish move against 1.1400/20.
Remain short, stop @ 1.1400, target @ 1.0930.
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 @ 1.1400, target @ 1.0930.
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.
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