HomeContributorsTechnical AnalysisEUR/USD Moving into Resistance

EUR/USD Moving into Resistance

EURUSD has been in a nice and strong recovery from 0.9730 from where we can count five waves up, so wave (C)/(3) might have come to an end especially if we consider a divergence on the RSI. As such, a minimum of three waves of a pullback can be in play down from 1.06-1.07 resistance based on two 4h wave counts. Support is at 1.03-1.02.

Elliott Wave Financial Service
Elliott Wave Financial Servicehttp://www.ew-forecast.com/
Trading forex, futures or futures options carries a high level of risk, and may not be suitable for all investors. The possibility exists that you could lose some or all of your initial investment; therefore you should not invest money that you cannot afford to lose. Our website and the information provided here should not be relied upon as a substitute for extensive independent research before making your investment decisions.

Featured Analysis

Learn Forex Trading