EURUSD continues its sideways contracting triangle and is expected to terminate Wave d around 1.0940/50 levels. Believe it or not, contracting triangle may be testing patience, but a powerful breakout awaits as Wave e terminates around 1.0880/1.0900 levels. In the medium to long run, structure remains constructive for bulls as long as prices stay above 1.0636. The triangle count will remain valid until 1.0768 holds. With each day passing, probabilities are turning high for a bullish triangle breakout. As we approach the end of April, a meaningful bottom formation is expected.
Strategy:
Long against 1.0636, 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 1.0636, 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.