has rallied over 100 pips after carving lows at 1.0870 handle yesterday. Looking at the short term wave counts, Wave iii of 3 might be progressing since 1.0870, and minimum target could be 1.1250 levels, if it is not an extension. As discussed yesterday, the rally could be sharp
and quick to break above 1.1150 interim resistance. EURUSD
seems to have carved Waves 1 and 2 earlier around 1.1150 and 1.0775 respectively. Ideally, prices should sty above 1.0775, the Wave 2 termination point. We favor bulls to remain in control and push prices towards 1.1500 as higher degree Wave 3 unfolds. EURUSD
remains a good candidate to be bought on dips, as intraday support is seen towards 1.0940 levels from here. Overall, EURUSD
towards 1.1500, against 1.0636 lows.
Long against 1.0630, targeting above 1.1500.
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