By Admiral Markets
The EUR/USD seems prepared for one more leg down to test the 1.16 support zone before continuing with the uptrend.
The arguments in favour of a larger bearish correction include:
- The EUR/USD completed 5 bearish waves
- Price showed divergence between the tops
- Price is moving with the trend in a corrective way
Check out the video to see the confirmation level, invalidation zone, and trade ideas for the EUR.USD.
Chris also analyses the USD/JPY and GBP/USD.
Article by Admiral Markets
Free Reports:
Get Our Free Metatrader 4 Indicators - Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter
Get our Weekly Commitment of Traders Reports - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.
Source: EUR/USD Bearish Continuation
Admiral Markets is a leading online provider, offering trading with Forex and CFDs on stocks, indices, precious metals and energy.