Euro / U.S. DollarShort
EURUSD Good short candidate
EURUSD CMP :- 1.22
Elliot wave study :- Impulse phase for currency is on verge to mature,, resistance around 1.22725 to 1.23000.
If corrective wave unfolds around this levels good retracement in price can be seen till level of 1.20000 to 1.19000.
Rising channel pattern formaiton :- Resistance of mid line of channel around 1.22000 levels might give good reversal trade .
RSI divergence :- Price is making higher and RSI is making lower high, bearish divergence.
Good short candidate.
Elliot wave study :- Impulse phase for currency is on verge to mature,, resistance around 1.22725 to 1.23000.
If corrective wave unfolds around this levels good retracement in price can be seen till level of 1.20000 to 1.19000.
Rising channel pattern formaiton :- Resistance of mid line of channel around 1.22000 levels might give good reversal trade .
RSI divergence :- Price is making higher and RSI is making lower high, bearish divergence.
Good short candidate.
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