Intraday Elliottwave Analysis: EURUSD, still heavy, but almost 1st target met

Yue Wang LinoCapital

EURUSD closed below 1.1790 last week.

Price almost satisfied 100% extension of a 5 wave decline from 1.2475.

Unless a clear bottom sign is flagged, we still look to sell rallies.

Weekly close back above 1.1790 or daily close above 1.1866, will be the first recovery sign.

Daily support Levels: 1.1732 1.1715 1.1685 1.1677 1.1668

Daily resistance Levels: 1.1771 1.1798 1.1802 1.1807 1.1820 1.1841

Intraday Trade Idea:(spot 1.1750)

①Buy Limit @ 1.1719 SL @ 1.1672 Take Profit @ 1.1751

①Sell Limit @ 1.1796 SL @ 1.1844 Take Profit @ 1.1765/1.1733

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Author

Yue Wang

LinoCapital

Master's Degree in Hepatobiliary Surgery. 

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