rounded corner
rounded corner
top border

EURUSD Found Intraday Sellers Against The 1.1172 High


Bookmark and Share

EURUSD Found Intraday Sellers Against The 1.1172 High

Hello fellow traders. Another instrument that we have been trading lately is EURUSD. In this technical blog were going to take a quick look at the Elliott Wave charts of EURUSD, published in members area of the website. EURUSD has incomplete bearish sequences in the cycle from the 12/311 peak. The pair is ideally targeting 1.1019 area . Consequently, we advised members to avoid buying the pair and keep on selling the rallies in the sequences of 3,7,or 11 swings whenever get chance. In further text were going to explain Elliott Wave Forecast and Trading strategy.

EURUSD 1 Hour Elliott Wave Analysis 1.21.2020

Cycle from the December 31st peak looks incomplete now, calling for further decline in the pair. Break of 01/10 low made EURUSD bearish against the 1.1172 pivot. Current bounce looks incomplete at the moment as we got only 5 waves up from the lows, which suggests we could have ended only first leg of Zig Zag pattern. Although we expect another leg up wave (c) of ((b)), we dont recommend buying the pair. Strategy is selling the pair in 3,7,11 swings against the 1.1172 high. At the marked blue box: 1.11083-1.11236 area we would like to be sellers , expecting to get decline toward new lows or 3 waves pull back at least. Invalidation of the trade would be break above 1.618 fib extension: 1.11236. As our members know Blue Boxes are no enemy areas , giving us 85% chance to get a bounce.

You can learn more about Elliott Wave Zig Zag Patterns at our Free Elliott Wave Educational Web Page.

EURUSD

EURUSD 1 Hour Elliott Wave Analysis 1.21.2020

Eventually , EURUSD gave us proposed leg up toward blue box. It found sellers right at the blue box area : 1.11083-1.11236 and gave us decline as expected. We got new short term low, confirming next leg down is already in progress. Members who sold the pair should be already risk free. Alternatively if we get strong bounce and ((b)) high gets broken, we can be doing irregular flat in ((b)), but the pair would remain bearish against in short term as far as 1.1172 pivot holds.

Keep in mind market is dynamic and presented view could have changed in the mean time.You can check most recent charts in the membership area of the site. Best instruments to trade are those having incomplete bullish or bearish swings sequences.We put them in Sequence Report and best among them are shown in the Live Trading Room.

EURUSD

Elliott Wave Forecast

We cover 78 instruments in total, but not every chart is trading recommendation. We present Official Trading Recommendations in Live Trading Room. If not a member yet, Sign Up for Free 14 days Trial nowand get access to new trading opportunities. Through time we have developed a very respectable trading strategy which defines Entry, Stop Loss and Take Profit levels with high accuracy.

Welcome to Elliott Wave Forecast !



Recent articles from this author



About the author


Elliottwave-Forecast.com  (by EME PROCESSING AND CONSULTING LLC) was founded in 2005 by Eric Morera. Since inception our company has provided tailored Financial Market Services to thousands of clients.

ElliottWave-Forecast has built a reputation on accurate technical analysis and a winning attitude. By successfully incorporating the Elliott Wave Theory with Market Correlation, cycles, proprietary pivot system, we provide precise forecasts with up-to-date analysis for 42 instruments including FX majors, Gold, Silver, Copper, Oil, TNX and major Equity Indices. Our clients also have immediate access to our proprietary actionable trade setups, market overview, 1 Hour, 4 Hour, Daily & weekly wave counts. Weekend webinar, Live Screen Sharing Sessions, Daily Technical Videos, Educational Resources, and 24 Hour chat room where they are provided live updates and given answers to their questions.

Published by Barchart
Home  •  Charts & Quotes  •  Commentary  •  Authors  •  Education  •  Broker Search  •  Trading Tools  •  Help  •  Contact  •  Advertise With Us  •  Commodities
Markets: Currencies  •   Energies  •   Financials  •   Grains  •   Indices  •   Meats  •   Metals  •   Softs

The information contained on InsideFutures.com is believed to be accurate but is not guaranteed. Market data is furnished on an exchange delayed basis by Barchart.com. Data transmission or omissions shall not be made the basis for any claim, demand or cause for action. No information on the site, nor any opinion expressed, constitutes a solicitation of the purchase or sale of any futures or options contracts. InsideFutures.com is not a broker, nor does it have an affiliation with any broker.


Copyright ©2005-2020 InsideFutures.com, a Barchart.com product. All rights reserved.

About Us  •   Sitemap  •   Terms of Use  •   Privacy Policy