EURUSD lower degree wave iv seen towards 1.1180/1.1200
EURUSD might be one lower degree wave away from carving a Wave iv low around 1.1180/1.1200 handle. An expanded flat is being carved since Wave iii terminated around 1.1385 earlier. Ideally prices should remain below 1.1280 if EURUSD needs to print another low below 1.1212, to complete the corrective structure. Thereafter, the rally should resume towards 1.1500/70 handle. A break above 1.1500 would also confirm long term trend reversal. At this moment, EURUSD seems to be progressing within Wave 3 since 1.0775 lows. Usually Wave 3 unfolds as an impulse and we can expect prices to stay above 1.1000 levels, going forward. Overall, EURUSD bullish structure continues to hold until prices stay above 1.0636.
Strategy:
Long against 1.0630, targeting above 1.1500.
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 1.0630, targeting above 1.1500.
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.