The EURUSD pair printed 1.1620 level highs yesterday before pulling back sharply. The said currency pair has made intraday lows below 1.1550 today and is seen to be trading around 1.1555 levels at this point in writing. Looking into the short term wave counts, a lower degree impulse wave seems to have completed between 1.1432 and 1.1620 levels. It is being retraced at the moment, and could test 1.1530 or 1.1500 levels before finding support again. The EURUSD is probably working its wave ii (not labelled here), within the 5 waves rally expected to unfold as Wave C progresses. The projected target could be 1.1850 and higher towards 1.21/2200 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.