Dear Traders,
There are several reasons, indicating that EURUSD is going to have a downtrend to 1.1513.
The first reason: The U.S. dollar index is in wave B and it will move to 95.22 and in completely match with trendline.
The second reason: The frequencies in EURUSD and Dollar index are showing trend change.
The third reason: Divergence in H4 for dollar index and EURUSD.
The fourth reason: Based on Elliott wave theory EURUSD and dollar index are completed their waves.
The fifth reason: Order flow already for downtrend on sell position orders and indicating a trend change.
I will take a sell position at rate: 1.1828 and hold it until 1.1513.
Good luck and have a nice day
FireXForex team
There are several reasons, indicating that EURUSD is going to have a downtrend to 1.1513.
The first reason: The U.S. dollar index is in wave B and it will move to 95.22 and in completely match with trendline.
The second reason: The frequencies in EURUSD and Dollar index are showing trend change.
The third reason: Divergence in H4 for dollar index and EURUSD.
The fourth reason: Based on Elliott wave theory EURUSD and dollar index are completed their waves.
The fifth reason: Order flow already for downtrend on sell position orders and indicating a trend change.
I will take a sell position at rate: 1.1828 and hold it until 1.1513.
Good luck and have a nice day
FireXForex team
I will wait for the next opportunity