EURUSD Forecast | Technical analysis for 7 February, 2017
EURUSD Forecast: Pre London Session Update
EURUSD up move from 1.0384 proved corrective and ended in an abc correction. My EURUSD Forecast has changed and I am bearish right now. Technical indicators support my bearish view. Elliot wave Principle do support my bearish view. I am looking to sell it around 1.0755-70. It looks that 1st wave of this new bearish scenario is near completion and we can see a recovery in form of a corrective structure. Intraday support lies at the level of 1.06873. My short term EURUSD forecast is bullish while medium and long term EURUSD forecast remains bearish. Aggressive traders can buy near the support level. While other can wait for the 1.0750 area to sell it again.
Disclaimer
Investment in financial instruments carries a high level of risk, and may not be suitable for all investors. You can even lose all of your investment. So do not invest money that you cannot afford to lose. Content presented is for education and information purpose. We will not be liable for any kind of your loss. By using the content of this website, you take the full responsibility for the loss and damages which may occur directly or indirectly from the use of information found on this website. All kinds of content on this website is only meant for educational purposes and not to be viewed as providing any kind of financial advice or trade recommendations. The author's sentiments may change during the course of market volatility. Therefore, reanalyze your trades carefully according to your risk appetite prior to entering the market. Past performance is not indicative of future results.
EURUSD up move from 1.0384 proved corrective and ended in an abc correction. My EURUSD Forecast has changed and I am bearish right now. Technical indicators support my bearish view. Elliot wave Principle do support my bearish view. I am looking to sell it around 1.0755-70. It looks that 1st wave of this new bearish scenario is near completion and we can see a recovery in form of a corrective structure. Intraday support lies at the level of 1.06873. My short term EURUSD forecast is bullish while medium and long term EURUSD forecast remains bearish. Aggressive traders can buy near the support level. While other can wait for the 1.0750 area to sell it again.
Disclaimer
Investment in financial instruments carries a high level of risk, and may not be suitable for all investors. You can even lose all of your investment. So do not invest money that you cannot afford to lose. Content presented is for education and information purpose. We will not be liable for any kind of your loss. By using the content of this website, you take the full responsibility for the loss and damages which may occur directly or indirectly from the use of information found on this website. All kinds of content on this website is only meant for educational purposes and not to be viewed as providing any kind of financial advice or trade recommendations. The author's sentiments may change during the course of market volatility. Therefore, reanalyze your trades carefully according to your risk appetite prior to entering the market. Past performance is not indicative of future results.