Intraday Elliottwave Analysis: EURUSD, exit long positions

Yue Wang LinoCapital

EURUSD still consolidated in the triangle.

According to Algo Trader System, long term trend still point down.

Price also failed to close above upper bands on H4 timeframe.

Further consolidation is likely, especially in the low liquidity summer market.

We suggest to exit long positions from 1.1632 and wait for better opportunities.

Daily support levels: 1.1660 1.1633 1.1613

Dialy resistance levels: 1.1708 1.1735 1.1762

Intraday Trade Idea: (spot 1.1684)

Sell Latentinterest Order: 1.1735

Buy Latentinterest Order: 1.1616

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Author

Yue Wang

LinoCapital

Master's Degree in Hepatobiliary Surgery. 

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