EURUSD carves a higher low at 1.0766 yesterday. Look higher now.
EURUSD had dropped to 1.0766 yesterday before reversing sharply. It reached 1.0854 rallying over 90 pips and is seen to be trading around 1.0836 as we write this article. We have labelled an alternate scenario, that of an expanding triangle for Wave 2 termination. If the above structure holds well, Wave e of the triangle might have completed yesterday, Wave 2 on the chart here. EURUSD could rally towards 1.1500 as Wave 3 might be underway since 1.0766 lows. Overall, the structure remains in favor of bulls as long as 1.0636 remains intact.
Strategy:
Long against 1.0630, targeting above 1.1500 and 1.1600.
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 above 1.1500 and 1.1600.
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.