EUR/USD Downtrend Continues After Bearish Breakout
Юни 20, 2018 10:51
The EUR/USD downtrend continues after another bearish break of a smaller consolidation zone. The next key support zone (green) is the previous bottom. Price seems to be building a potential 5th wave within wave A (purple) but price needs to break below support. The main target is 1.1450 due to the presence of a 50% Fibonacci retracement level on the weekly chart.
The EUR/USD seems to building a potential break, pullback and continuation within the bearish wave 5 (purple).
P.S. Don't forget to follow Admiral Markets on Facebook – or @AdmiralMarkets on Twitter – for the latest market updates.
This material does not contain and should not be construed as containing investment advice, investment recommendations, an offer of or solicitation for any transactions in financial instruments. Please note that such trading analysis is not a reliable indicator for any current or future performance, as circumstances may change over time. Before making any investment decisions, you should seek advice from independent financial advisors to ensure you understand the risks