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EUR/USD Long Bearish Wolfe Wave Confirmed

By Admiral Markets

The EUR/USD is slowly moving, waiting for investor action on Trump’s speech and inauguration. Due to potential volatility later today we might see investors moving to protect their money. On the EUR/USD intraday chart we see a strict bearish Wolfe Wave with clearly defined 1-3 wave. In Wolfe Wave analysis the wave length is not fixed. This is a January wave and the breakout trigger could happen during the Trump’s speech itself. Breakout is triggered at 1.0590 and the target is 1.0536 with the scope towards 1.0460 but only if bearish momentum is too high.

If we see a bullish EUR/USD it will still keep the wave intact. Due to profit taking today, the movement could be two directional so be careful.

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Article by Admiral Markets

Source: EUR/USD Long Bearish Wolfe Wave Confirmed


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About Louie Lewis

Louie Lewis
Successful forex trading starts with you first. Then comes the actual strategies and techniques. I have been involved with forex and forex trading for a few years now. It is a wonderful way to build wealth. The learning never stops and I want to help others along their journey into this wonderful market of opportunity.

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