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EURUSD top seen around 1.1960/1.2000 levels

EURUSD top seen around 1.1960/1.2000 levels

EURUSD potential triangle might be seen around 1.1780. The currency is into its last leg rally since then and is expected to reverse from 1.1960/1.2000 zone. If a top is in place at 1.1965, we should see a break below 1.1780 (the triangle termination). Either way, EURUSD might be setting up to reverse lower for several weeks to come. The larger degree wave structure also indicates that a potential expanded flat might be complete at 1.1965 or could be close to termination. Watch out for a break below 1.1780 to confirm a top in place around 1.1965.

Remain short, stop @ 1.1970, target is open

Risk Disclaimer:

Trading Forex or any CFD products may not be suitable to all investors and they must evaluate their risk appetite. The above article should not be construed as a trading or investment advice as it is solely for education and information purpose only. Trading might incur a loss of capital and hence investors might be required to gain further knowledge regarding the risks involved. Leverage should be used wisely.

from Trading Ideas
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