Stoic-Trader

EURUSD - Downtrend, but expect a bounce

FX:EURUSD   Euro / USA-dollar
War broke out, and elliott waves had to be recounted.

Zooming out on the EURUSD chart, I still believe that we´re in the final stages of a corrective cycle. We also have bullish divergence (red lines on chart and RSI).

1.10 could give us support, based on early 2020 price action. Not taking any shorts now, and will wait for a reversal pattern before going long. Preliminary targets are 1.13 and 1.15.

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