eurusd (11-07-2019 ) Correction takes place for the Pairs and bearish will come soon.

Weekly Chart 11-07-2019

The main trend for the EURUSD is bearish controlled by the downtrend channel as shown on the above chart. the downside trend still active till the price didn’t break the invalidation level (1.1820)

currently the price in the wave {(z) supper cycle} /and {w cycle}.

Daily Chart 11-07-2019

the prices is in the beginning of wave (3) of the intermediate level furthermore the subdivision of this wave formulated wave 1 wave 2 is in progress.

confirmation of the downside will occurred when the price break wave 1 level ( 1.1106), however breaking wave 2 (1.1412) would be indicator of double correction . and stop lose should be above this level.

4h chart 11-07-2019
1h chart 11-07-2019

Recommendations:

the sell limit entry level should be at the 61.8% retracement level or above of wave ((i)), and the stop lose above the start of wave ((i)) and take your first profit at the level of wave ((i) and the second target profit at the 100% Fibonacci extension.

Risk Disclaimer

Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

 

elliottwavelive

Expert trader integrate powerful of Fundamental analysis and news with distinguish of Elliott wave technical analysis for excellent trade setups.

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