Online:
Visits:
Stories:
Profile image
By FX Instructor (Reporter)
Contributor profile | More stories
Story Views

Now:
Last Hour:
Last 24 Hours:
Total:

EUR/USD – Down trend in 4 hours chart

Tuesday, February 21, 2017 1:11
% of readers think this story is Fact. Add your two cents.

(Before It's News)

eur-usdTrend is bearish in EUR/USD currency pair, four hour time frame. As I have suggested past week during my daily Live trading room session, market is falling down on a short term basis to complete wave b of a Zig Zag Elliott Wave pattern and traders should look for a sell trade. So, all those Forex traders who have followed the analysis have made the right decision as the price has descended. Strong key resistance level is present at 1.0828 price level.

Be sure to check out daily Forex market updates via Live Trading Room. In my opinion, price action in EUR/USD is most probably going to rise up again to print a possible bullish wave c pattern to complete a Zig Zag which is going to complete corrective Wave B. So, a good idea is to first wait for a bullish wave c leg in price action and then short the market to ride the bearish wave C leg!

However; if price action of EUR/USD currency pair closes a bullish candlestick above 1.0828 key resistance level then bearish Elliott Wave count will become in-valid. Henceforth, I may jump at the chance to stay out of the market and re-analyze the EUR/USD price action.



Source: http://fxinstructor.com/blog/eurusd-down-trend-in-4-hours-chart-7

Report abuse

Comments

Your Comments
Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

Top Stories
Recent Stories
 

Featured

 

Top Global

 

Top Alternative

 

Register

Newsletter

Email this story
Email this story

If you really want to ban this commenter, please write down the reason:

If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.