EURUSD Forecast
The correction EURUSD started in September 2022 is not over yet. We are forecasting that we only have finished the (A) from the (A)(B)(C) of the correction in the intermediate degree (blue) to end wave 4 (green). Therefore we still need to see the price making higher highs from the current position.
We are forecasting this option as the most provable at this point because wave (A) seems like a clear motive wave for us. We clearly see 5 waves forming (A). That means that, as wave 4 in green (primary degree) has to have a corrective structure, there is still another wave up missing.
What to do?
We currently can not look to enter the market. We should be patient and wait for the price to break the 1.1033 level before looking for short-term buying opportunities.
Alternative scenario
We forecast that wave 4 in the primary degree (green) is not over yet. However, until the price does not break the 1.1033 level, we cannot discard the scenario where wave 4 is already over. If this is the case, the price will resume the downtrend directly, making lower lows.
Unfortunately, today we cannot give you a trade idea for the EURUSD, but we hope you understand what the asset situation of the EURUSD is.
As always, we will keep you updated
Please remember to do not to risk more than 2% of your account on each trading idea
The correction EURUSD started in September 2022 is not over yet. We are forecasting that we only have finished the (A) from the (A)(B)(C) of the correction in the intermediate degree (blue) to end wave 4 (green). Therefore we still need to see the price making higher highs from the current position.
We are forecasting this option as the most provable at this point because wave (A) seems like a clear motive wave for us. We clearly see 5 waves forming (A). That means that, as wave 4 in green (primary degree) has to have a corrective structure, there is still another wave up missing.
What to do?
We currently can not look to enter the market. We should be patient and wait for the price to break the 1.1033 level before looking for short-term buying opportunities.
Alternative scenario
We forecast that wave 4 in the primary degree (green) is not over yet. However, until the price does not break the 1.1033 level, we cannot discard the scenario where wave 4 is already over. If this is the case, the price will resume the downtrend directly, making lower lows.
Unfortunately, today we cannot give you a trade idea for the EURUSD, but we hope you understand what the asset situation of the EURUSD is.
As always, we will keep you updated
Please remember to do not to risk more than 2% of your account on each trading idea
Trading the Right Side team
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All our links: bit.ly/m/TRS
NEW Free telegram channel: t.me/tradingtherightside