The EURUSD pair hit 1.1442 levels during early trading hours today, suggesting that it could be ready to push higher above 1.1500 levels going forward. Intermediary resistance is seen at 1.1472 levels and only a consistent push through it would be constructive for bulls. The corrective wave structure (A)-(B)-(C) which began from 1.1300 levels earlier, could be unfolding as an expanded flat or a triangle structure as discussed earlier. In either case, a rally towards 1.1650 levels remains probable, before further direction. Please note that intermediary support comes in at 1.1267 levels and until EURUSD stays above that the structure would remain valid. Short to medium term bullish bias remains with potential targets towards 1.1650 at least.
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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.