EURUSD : Recovery Is Trading Near Resistance

Discussion in 'Forex Trading Signals & Forecasts' started by Sandra S., Dec 14, 2015.

  1. Sandra S.

    Sandra S. Forum Member

    Sep 1, 2015
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    EURUSD is higher, most likely in wave C) that is moving towards 1.1070 level where resistance of a former wave 2) correction can cause a new turning point. Ideally market will turn to the downside this week as rise from the low can be considered as sharp corrective wave (4); part of a bigger incomplete dowtrend. From a confirmation point of view we need bearish reversal on intraday charts with five waves down towards 1.0790 that would lock-in highs of wave C). Only then downtrend would be ready

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