The Euro made a new high above 1.1534 as expected followed by a reversal. The decline off 1.1550 completed three waves at 1.1439 but there is no evidence a bottom is in. We have to see prices above 1.1476 to confirm it has. Note that any new low would negate the bullish scenario.
On short term look for sell opportunities. This harmonic pattern can provide better short entry.
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Morning guys,
Yesterday EUR has shown another small dive to 1.1360 and completed our nearest target. Today all eyes on US GDP release. Daily chart still looks bearish, but on intraday picture we have some patterns telling that higher retracement is possible.
In current circumstances we definitely do not recommend to go long. If even stronger upside action will happen - initially we will treat it as retracement and better chance for short entry...
Short term entry worked perfectly, TP zone very near 1.1315-1.1360. That could be also reversal zone for EURO for more meaningful bounce to upside, or just minor bounce and drop to 1.11-1.12 first and then true bounce to over 1.18 area.
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