Elliottwave Analysis: EURUSD, try a long

Yue Wang LinoCapital

EURUSD closed below 1.1735, further bearish toward 1.1635/16 could not be ruled out.

But downside may be limited from current levels.

For now all technical indicators are in oversold territory.

Once reached, market may come into a consolidation mode.

If seen, we'll use the weakness to build tactical long positions.

EURUSD Trade Idea:(spot 1.1709)

Buy Limit @ 1.1655 SL @ 1.1570 Take Profit @ 1.1852

Intraday Trade Idea:

Buy Limit @ 1.1646 SL @ 1.1608 Take Profit @ 1.1686

Sell Limit @ 1.1784 SL @ 1.1803 Take Profit @ 1.1749

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Author

Yue Wang

LinoCapital

Master's Degree in Hepatobiliary Surgery. 

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