EURUSD is consolidating its recent gains and may drop to 1.0940 levels before resuming its rally. The structure till remains intact towards 1.1500 in the next few weeks. The recent boundary that is being worked upon could be between 1.0870 and 1.1035 respectively, The fibonacci 0.618 retracement is seen towards 1.0930, and a bullish reversal can be expected there. Another possibility remains that EURUSD retraces the entire rally between 1.0775 and 1.1035. Either way, the currency should be well supported ahead of 1.0775 for the above structure to remain valid. Earlier, EURUSD has managed to carve Wave 1 and 2 within a potential impulse rally towards 1.1500 resistance. Structure remains bullish against 1.0630, going forward.
Strategy:
Long against 1.0630, targeting 1.1500.
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.
Strategy:
Long against 1.0630, targeting 1.1500.
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.