EURUSD: A New High-Very Unlikely at This Point (Short Signal).

EURUSD: A New High-Very Unlikely at This Point (Short Signal).

16 May 2016, 12:20
AynGannRand
0
28

As stated in our March 9th analysis on EURUSD, this rally is a corrective wave 4 and even though we expected EURUSD to reach 1.17-1.18 levels, recent action has put a question mark on that event. A break of 1.125 will make it very unlikely for EURUSD to reach a new high and it might suggest that the fifth wave down has started.

 

(C) wave extended only 0.786 of wave (A), even though I would have preferred it to top around 1.17-1.18 level where extension = 100%. The safest play for the moment is shorting according to the levels explained in the chart below ...Read More 

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