Hellena | EUR/USD (4H): Short to 61.8% Fibo lvl 1.07715.

Dear Colleagues, it is obvious that the price has made a strong upward momentum. I suppose that this movement is wave 1. At the moment I expect that the price will make a corrective movement of wave 2 to the area of 61.8% Fibonacci level 1.07715.

Manage your capital correctly and competently! Only enter trades based on reliable patterns!

Comment:

Dear colleagues, the price has tested the resistance area at 1.08576. I suppose that now only short positions can be considered. The target may change and we should be careful when the price reaches the 50% Fibonacci level.

Comment:

Dear colleagues, yesterday the price traded at 1.07970. It was quite close to our target! I have concerns that wave 2 could end at this level. In any case, we should carefully watch for further price changes and set trades to breakeven. I also recommend to close some positions.

Comment:

The price tested the level of 1.07969 twice. I suppose that the price will do it one more time and then reach the target. It may not happen this week, but I want to remind you to set trades to breakeven!

Comment:

Dear Colleagues, the price is still in the forecast range. The price sentiment is more downward, the high has not been updated, which means I expect the scenario to end next week. The target remains 1.07715.

Comment:

Well. The price has returned to the resistance area and that means that the price is giving us an opportunity. I suppose that we should consider only short positions with the aim to reach at least 1.07967 (the nearest local minimum).