Eurusd Nearing The Bearish End ~ forex-day-trading.com review
On 21st November, I saw a need for more bearish move of the Eurusd. The basis of this analysis is the continuation of the terminating fifth wave of the last swing-leg of the bearish corrective triangle which started in 2008.
According to my various projection tools, I saw a possibility for 1.2150 and 1.8850 support zones . I went out of my trades with 180 pips at 1.2280
There is a strong possibility for further bearish push before the long awaited rally could start.
Presently on the 4 hour chart, price seems to complete the 4th wave of an ending diagonal to terminate the 5th wave on a grand style.
With bullish divergence on the daily chart, I can only think of a bullish move. If the 5th wave of the diagonal dips further with a three-wave intra day drive, there could be an opportunity to take a nice trade with a very good risk reward ratio.
I will post updates as market unfolds.
At the moment let me enjoy the bullish move on Gold after cashing out good profits on Eurusd and Usdcad
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