We are looking at a wave 4 pullback in this 5 wave decline. We should see prices get to 11800 and possibly 12000 before we roll over and make our 5th wave.
The dollar index support sits at 9241 so we will be setting up shorts on the EURUSD if the dollar gets here.
Update 5.30pm - EURUSD has a nice pop higher from 11660 to 11720.
The dollar index support sits at 9241 so we will be setting up shorts on the EURUSD if the dollar gets here.
Update 5.30pm - EURUSD has a nice pop higher from 11660 to 11720.
Comment:
Banked majority of the wave 4 profits today at just 11790 just in front of the round number of 11800. Wave 4 could carry the price to 12000 and then we decline in wave 5.
Comment:
Wave 4 is still playing out and we could see 11912 soon. From there I would be careful with longs. We will be at the 38.3% junction for wave 4.
Comment:
EURSD continues to push lower in its 5 wave decline.
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