Greeting traders,
Referring to the chart above, there's a possibility of good long setup for EURUSD.
Reasons are:
1) Wave 5 of Elliot waves
2) Bullish shark pattern
3) Price is hovering over demand zone = support level
4) Price is currently at 38% fib retracement (wave 1 to wave 3)
Take profit zone
1) 1st supply zone = the same length of wave 1
2) the 2nd level of supply zone = 1.62 extension of wave 1
Ps: Please do not take this as a trading signal. This is just our thoughts on how the market might move based on technical analysis.
"Trade what you see"
Have a pleasant.
Cheers,
Movingwfx
Referring to the chart above, there's a possibility of good long setup for EURUSD.
Reasons are:
1) Wave 5 of Elliot waves
2) Bullish shark pattern
3) Price is hovering over demand zone = support level
4) Price is currently at 38% fib retracement (wave 1 to wave 3)
Take profit zone
1) 1st supply zone = the same length of wave 1
2) the 2nd level of supply zone = 1.62 extension of wave 1
Ps: Please do not take this as a trading signal. This is just our thoughts on how the market might move based on technical analysis.
"Trade what you see"
Have a pleasant.
Cheers,
Movingwfx
