Hellena | EUR/USD (4H): Short to 50% Fibo lvl 1.08580.

Aug 15

Dear Colleagues, the price has completed wave “1” and I believe that the price will leave for the correction of wave “2”.
At the moment I believe that it is possible to update the high of 1.1047 for the bears to gain strength, then I believe that the price will reach the area of 50% Fibonacci level of 1.08580.
It is possible that the price will immediately start a downward movement, but the correction should take place.

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Aug 16

Trade active

Colleagues, the price did not update the high of 1.10079, and showed a small downward impulse. At the moment I believe that the price will continue the downward movement, because to update the maximum the bulls need to overcome the strong resistance at 1.10078, which is getting stronger.

Aug 19

Trade active

Dear colleagues, the price has reached the resistance area and I expect the corrective movement in wave “2” to start soon. The maximum level of wave “1” I assume 1.10800.

Aug 20

Note

The price has overcome the planned resistance area, but the forecast continues because I am sure that the downward movement is about to start.
All my thoughts are only about short positions until the area of 1.08581.

Aug 21

Trade active

Colleagues, wave 1 continues its upward movement, which could mean that the bulls have found the strength for another impulse. I still expect a corrective move, even if it does not reach the 1.08581 area, but reaches a level a little higher. Still, wave “2” should form.