EURUSD Wave 2 triangle in progress. 1.0768 is interim support.
EURUSD Wave 2 is most likely to be unfolding as a contracting triangle as seen on the hourly chart updated. The adjusted counts presented here are indicating that Waves a, b, and c are likely in place at 1.0768, 1.0986 and 1.0810/20. If the triangle count holds, Wave d should be underway soon towards 1.0940/50, followed by wave e towards 1.0870 respectively. Thereafter, EURUSD bulls are expected to break higher towards 1.1500 as Wave 3 unfolds. A drop below 1.07868 would nullify the triangle count and a flat might be unfolding. Overall structure remains bullish against 1.0636.
Strategy:
Long against 1.0636, targeting 1.1500/1600
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 1.0636, targeting 1.1500/1600
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.