EURUSD - Downside Move Not Yet Complete
The FOMC minutes showed the FED is potentially ready to begin raising interest rates early-mid 2022 and will begin to reduce its balance sheet. This indicates a stronger DXY over the coming days/weeks.
Based on the Elliott wave count, we are expecting a final move to the downside to complete a final 5th wave of a C wave correction.
The RSI has already broken down from its rising trendline support indicating a decline is underway.
The 23% FIB retracement can provide possible targets for the short side.
Let us know your thoughts below.
Based on the Elliott wave count, we are expecting a final move to the downside to complete a final 5th wave of a C wave correction.
The RSI has already broken down from its rising trendline support indicating a decline is underway.
The 23% FIB retracement can provide possible targets for the short side.
Let us know your thoughts below.
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.