The EURUSD advance continues as expected and it looks that the bulls are close to taking out the first major price resistance at 1.1500 levels. Nothing much changes on the chart presented here except the fact that prices can be seen breaking above the immediate trend line resistance. The EURUSD is now trading around 1.1456 levels and remains just shy of taking out 1.1500 levels. Looking into the wave structure, the ending diagonal presented count remain intact for now with previous wave 4 expected to be taken out. Please note that prices need to stay above 1.1172 levels for this count to remain valid. An aggressive trading strategy could be to remain long with stop below 1.1213 levels and potential targets above 1.1500. The risk reward ratio would not allow taking long positions at this price so one can wait for a corrective pullback before initiating fresh positions.
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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.