Forex Signal – EURUSD 1H FRAME 100% SELL!
The EURUSD pair created a meaningful top on Dec 08, 2016, which can safely be defined as wave (2) of the drop from 1.1300 levels earlier. The pair is working out its wave 5, within wave (3) as depicted here, after terminating the 4th wave at 1.0480 levels today. If this wave structure holds well, we should see EURUSD dropping lower towards 1.0300 and 1.0200 levels going forward. The pair is predicted to finally terminate around parity levels.
On the flip side, a push above one.0550 and subsequently 1.0680 levels would take the price to 1.0900 levels before reversing lower. it’s therefore good to remain short around these levels against 1.0680. Immediate resistance is seen at 1.0680 levels, while support is at 1.0350 levels. trading recommendations: remain short now, stop around 1.0680 levels and target is 1.0300 and 1.0250.
EURUSD short on any retrace above horizontal line at 4 PM EST
We are short today and have set an alarm if price retraces back above the horizontal line we will open a short binary option for EOD expiry at 4 PM EST.