EURUSD also now reversing from our »do or die« level placed at 1.3400, but still need a channel break and impulsive structure (five waves down) from above 1.3400 to make sure we are going lower.
EURUSD 1h Elliott Wave Analysis
For now we are sitting on our hands, no official trades, but we are watching USDCHF, EURUSD and AUDUSD very closely for possible USD long set-ups. But at the moment however, I think it’s too soon for trades, it’s still only Monday and also holiday in the UK, so I believe it’s better to wait on more price action and see it then if USD rally has already began or no, and then go with the flow.
Try EW-Forecast.com’s Services Free for 7 Days – http://www.ew-forecast.com
