EURUSD is currently rallying with a second impulsive wave toward the top of the declining channel. The pair may see some resistance at these levels as wave-(c) did not surpass the start of wave-(a) and a sideways symmetrical triangle may be underway prior to the continued rally. The channel resistance may add to the bearish bias at these levels. I am still bullish on the pair, and retracement to wave-(e) may present an excellent opportunity to add to bullish positions for the continued rally through the completion of corrective wave-C.
Bullish Entry:
Bullish Entry:
Comment:
Point (d) confirmed, waiting for (e) to complete and confirm with a bullish impulse. This would likely mark the beginning of wave-(3)-of-C and a break out of the channel is expected.
