4-26-2017 10-47-04 PMTrend is bearish in EUR/USD currency pair, 15 minutes time frame. Short term resistance is present at 1.0951 price level. Based on Elliott wave analysis, I expect a bullish Wave b leg.

Bullish wave b pattern offers a possible sell trade setup to join the down trend in EUR/USD currency pair. So, a good idea is to first wait for a bullish leg and then go short.

However; if price closes a bullish candlesticks above 1.0951 resistance level then down trend is going to end. Hence, I might like to stay out of the market and re-examine the price chart.

FX Instructor Forex Blog – For Traders, By Traders

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.