Good afternoon guys,
News coming from the EU suggests they have reached the peak of the corona-virus outbreak.
Italy, France and Spain have reported a reduction in deaths over the past few days which is a key signal.
The EUR took a beating last week and we could see some strength potentially returning to the EURO this week.
Hopefully you all know the analysis we are going to post, on Friday I posted a potential Elliott waves analysis following the EURUSD.
I know believe we have completed wave B, meaning we could be ready for a 5 wave structure higher.
Elliott wave count (Fridays telegram post)
EURUSD – 4 Hour Charts
We could now have seen the end of wave B. A key level the market needs to break is 1.0890.
Trade Setup: BUY EURUSD – Market Order (current price1.0825), stop loss set at 1.0750 and take profit 1.1030
Stop loss: 75 PIPS
Take Profit: 205 PIPS