EURUSD – BUY – 6th April 2020

EURUSD – BUY – 6th April 2020 (Closed)

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.

EURUSD Analysis

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

Trade Setup
BUY - Market Order

Entry
1.0825

Take Profit
1.1030

Stop Loss
1.0750