The EURUSD hourly chart is suggesting that the currency remains a potential buy on dips. It remains to be seen whether 1.1526 is able to act as a bottom/support for the next leg up or a more complex correction is unfolding. If the latter scenario unfolds, we could see yet another drop lower in a flash, towards 1.1470 levels before the rally could resume. In either case, we can expect Wave C rally towards 1.2000/1.2100 levels in the coming sessions. What remains to be seen is that whether it materializes from here or from 1.1470 levels. A safe strategy could be to stay long and also look to add around 1.1470 levels.
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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.