sell euro around 1.2205 | 18 January 2018

18 January 2018, EUR/USD

Wave Analysis:

Yesterday, euro opened at 1.2259, went as high as 1.2322 and as low as 1.2184 but ended up closing at 1.2184, several pips below its opening price. The previous day's candle is a perfect bearish engulfing candle and indicates a possible increase in the number of sellers in the market. Thus, during this intraday, and the next few days we expect a possible momentum to the lower side but should get supported around 1.1995. The current upward rally is mere correction of the previous day's rally, and may not go above 1.2205. This pair should be traded alongside EURAUD, EURHKD, and EURCAD. These pairs have a strong positive correlation and may move in the same direction today.

Trade Recommendations:

sell euro around 1.2205 with your take profit at 1.1995

FreshForex cancels commissions!

Bob Stan
Agree with the review?
Traders' opinion:
Close
Log in
Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with accessing Client Area. How to enable cookie .
manager photo manager photo
Online-support
We will be pleased to answer any questions you may have

Write

Get bonus