The EURUSD failed to push above 1.1815/20 levels yesterday and is now looking to print lower lows towards potential support at 1.1500 levels, short term. Please note that we had changed our stand from bullish to neutral last week, in anticipation of a sharp bearish short term reversal. The move might be materializing now and a 5 waves drop could be expected lower. Looking into the wave counts again, please note that the medium term structure remains bullish , but maybe after this leg is over. The wave counts are suggesting that EURUSD -0.30% could find potential support towards 1.1500/25 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.