Hellena | EUR/USD (4H): LONG resistance area 1.04630 (Wave 5).

3 days ago

Dear colleagues, I decided that I will make a new forecast, as the previous forecast was put to breakeven and the price updated the low of 1.04016.
At the moment I have redrawn the waves a bit and I still believe that the upward movement will continue, as the five-wave impulse is not over.
I believe that the price may slightly update the minimum of wave “4”, then I expect the price to reach at least the area of 1.04630.

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14 hours ago

Trade active

This week I believe there will be some pretty decisive price action.
That's what this move is all about. If price continues to move towards the 1.04630 area, then we take profits and watch price.
But price could reach the 1.04400 level and start a downward movement.
This is due to the fact that the political situation is changing dramatically and we may see a strengthening of the dollar. This means that the wave “5” has already been completed at 1.05282 and now the “ABC” correction is taking place.
So at the moment I advise to take profits or should set trades to breakeven when reaching the 1.04400 level.