EURUSD Targeting 1.1090 Levels In Next 24/48 Hours
We present EURUSD 1H chart today with lower degree wave counts and projected targets. After terminating potential Wave 2 around 1.0768 levels, EURUSD has managed to produce a lower degree impulse rally towards 1.0927 levels yesterday. Please note Wave 3 might be underway since 1.0768 levels and the recent rally could be labelled as wave i. The subsequent drop to 1.0829 levels today has been corrective and labelled as wave ii, which has also found support around fibonacci 0.618 retracement of wave i. At this point in writing, wave iii within Wave 3 might be underway, and the rally is expected to be sharp, pushing EURUSD towards 1.1088 levels. Bottom line is that EURUSD should stay above 1.0829, going forward.
Strategy:
Long against 1.0800, targeting 1.1088 and 1.1150. Time frame could be 24-48 hours.
Legal Disclaimer: This article is not investment advice. The data provided is for marketing material purposes and is not intended to confuse nor guide our clients on trading decisions. Any investment activity performed is perceived to be a self-directed decision. Exclusive Markets is not liable for losses that may occur because of a decision made after reading the information published on our research page or any other media.
Risk Warning: Trading the capital markets is risky therefore further knowledge and experience may be required. Apply appropriate risk and money management always and ensure the implementation of safe leverage.
Strategy:
Long against 1.0800, targeting 1.1088 and 1.1150. Time frame could be 24-48 hours.
Legal Disclaimer: This article is not investment advice. The data provided is for marketing material purposes and is not intended to confuse nor guide our clients on trading decisions. Any investment activity performed is perceived to be a self-directed decision. Exclusive Markets is not liable for losses that may occur because of a decision made after reading the information published on our research page or any other media.
Risk Warning: Trading the capital markets is risky therefore further knowledge and experience may be required. Apply appropriate risk and money management always and ensure the implementation of safe leverage.