Weekly Trading Plans on EUR/USD – USD/JPY – SPX – DX [Video]
|The EURO against the US Dollar drop to the lowest price of the last three weeks. Is that a bargain? According to the Elliott Wave count, the price is at a highly attractive level to look for a bullish entry. While the USD/JPY is expensive and once its value goes higher than 109.50, the sellers will start looking for shorts, and the wave count suggests it will be an excellent opportunity to find the reversal and take shorts.
While the S&P500 is in a stable upward trend, expecting to see higher highs during the week. Especially a breakout of the 3100 area, once the price is at those levels, the trend could be tired, and technical reversal validations will be critical to short.
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