Sorry!! The article you are trying to read is not available now.
Thank you very much;
you're only a step away from
downloading your reports.

EUR/USD: Upside Correction Due Before Market Resumes Downward

By

PrintPRINT

This article is published in collaboration with Scutify, where you can find real-time markets and stock commentary from Robert Marcin, Cody Willard and others. Download the Scutify iOS App, the Scutify Android App or visit Scutify.com.

EURO/USD

----------------

*TREND : Bearish

*MARKET STRUCTURE : Head & Shoulders formation

*ELLIOTT WAVE : Sub-wave 4 of (3) is irregular.

The market still showing bearish tendency. The H&S neckline breakout , the trading below the moving average, the Elliott wave count and the time studies all supports the bearish trend, BUT the last hesitated small downside swings with price/oscillators divergence indicates that the market is due for an upside correction toward 1.1830-50 to complete the mini-wave c of the irregular sub-wave 4 of (3) before the euro resuming its downward toward 1.1600-1.1580 with slight possibility to extend toward 1.1460 to complete wave (3).

A CLOSE ABOVE 1.1860 WILL ABORT THE ABOVE BEARISH SCENARIO.


This article was written by AD FINANCIAL CORP for https://www.investing.com/analysis/eurusdan-upside-correction-is-due-before-the-market-resumes-its-downward-200217574 on .

This article published in collaboration with Scutify, the best app for traders and investors. Download the Scutify iOS App, the Scutify Android App or visit Scutify.com.

< Previous
  • 1
Next >
PrintPRINT
 
Featured Videos

WHAT'S POPULAR IN THE VILLE