EURUSD clears 1.1420. Pushing towards 1.1500 in the near term
EURUSD cleared 1.1420 interim resistance changing the structure. The rally from 1.0636 is here to stay and has completed Waves 1, 2, 3, and 4 with Wave 4 terminating at 1.1167 as marked on the chart here. EURO bulls seem to be poised to move towards 1.1500 resistance before taking a meaningful break. We shall be looking to enter longs on a pullback towards 1.1300/20 levels. The currency might be attempting to push towards 1.1470/75 levels from here, before producing a meaningful pullback. We change our short term stance to bullish again.
Strategy:
Flat for now. Short term bullish towards 1.1470/75 at least.
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Risk Warning: Trading the capital markets is risky therefore further knowledge and experience may be required. Apply appropriate risk and money management always and ensure the implementation of safe leverage.
Strategy:
Flat for now. Short term bullish towards 1.1470/75 at least.
Legal Disclaimer: This article is not investment advice. The data provided is for marketing material purposes and is not intended to confuse nor guide our clients on trading decisions. Any investment activity performed is perceived to be a self-directed decision. Exclusive Markets is not liable for losses that may occur because of a decision made after reading the information published on our research page or any other media.
Risk Warning: Trading the capital markets is risky therefore further knowledge and experience may be required. Apply appropriate risk and money management always and ensure the implementation of safe leverage.