Euro staged an impressive rally from 1.1554 levels to 1.1861. Since the bounce was from levels closer to 0.382 fibo level of the move 1.0570-1.2090 it can easily be assumed as the start of the next impulsive leg up. Let us closely analyse the move 1.1554-1.1861.I have marked 2 boxes on the chart- blue and red. If you check the blue box you can clearly see that the move is clearly overlapping and it is difficult to count a clear impulsive wave pattern out of it. Having said that the move inside the red box is clearly impulsive. The entire move could most probably counted as an abc rather than an impulsive 5-3-5-3-5.It could be A wave of a wave B pullback of higher degree or this move could be the X wave of a triple zigzag correction. Euro is currently testing the trend channel trend line it broke to move higher so it is important that Euro remains above this channel to maintain the bullish outlook if not we could quickly reverse to test levels closer to 1.15 or lower again. Things are not so bright in Eurozone since last time Euro was above 1.17 so be very nimble and trade safe.
Good Luck!!!
Good Luck!!!