The EURUSD rally yesterday came in as no surprise since the direction we have been calling for is on the north side towards 1.1800/20 levels at least. The only element of surprise was a very shallow retracement that terminated at 1.1405 levels before the pair took off. Keeping in mind the bigger picture, we would like to bring to notice that RSI has been diverging on lower timeframes. Also a lower degree wave count might be suggesting that the impulse rally could be complete from 1.1289 through 1.1500/10 levels. Please be prepared for a potential pullback towards 1.1400 levels that could unfold in a corrective manner. Larger degree counts remain unchanged for now with the expanded flat structure poised to rally through 1.1800/20 atleast, and Wave (C) in progress. Any intraday dips should be taken as opportunities to build further long positions.
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This written/visual material is comprised of personal opinions and ideas. The content should not be construed as containing any type of investment advice and/or a solicitation for any transactions. It does not imply an obligation to purchase investment services, nor does it guarantee or predict future performance. FXTM, its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness of any information or data made available and assume no liability for any loss arising from any investment based on the same.
Disclaimer:
This written/visual material is comprised of personal opinions and ideas. The content should not be construed as containing any type of investment advice and/or a solicitation for any transactions. It does not imply an obligation to purchase investment services, nor does it guarantee or predict future performance. FXTM, its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness of any information or data made available and assume no liability for any loss arising from any investment based on the same.