The EURUSD hourly chart could be indicating that a re-test of 1.1300 levels is possible. If a flat A-B-C structure is unfolding as a corrective rally since 1.1300 lows, prices should remain above that and reverse. As an alternate, if an expanded flat A-B-C is unfolding, we could see a dip below 1.1300 levels before EURUSD reverses higher. In either case, it could be a safe strategy to remain long on dips as close to 1.1300 levels going forward. Please also note that the medium term wave count remains broadly unchanged after a 5 waves impulse drop between 1.2500 through 1.1300 levels earlier. High probable count from here remains that of a 3 wave corrective rally (flat or an expanded flat).
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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.