EURUSD Bullish Potentia Towards 1.1090 Remains - Intraday Update
EURUSD trades around 1.0873 at this point in writing and bulls remain poised to push through 1.1090 to terminate lower degree Wave iii, as discussed yesterday. A break above 1.0888 would confirm and add further confirmation. The medium term wave structure still indicates that EURUSD might have completed its corrective drop A-B-C around 1.0768, terminating potential Wave 2. Since then, Wave 3 could be underway and is expected to terminate towards 1.1500 and higher. In the immediate short term, the single currency pair looks to have carved lower degree waves i, and ii at 1.0927 and 1.0830 respectively. Wave iii of 3 seems to be underway now.
Strategy:
Long against 1.0770, targeting 1.1090 and higher.
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 1.0770, targeting 1.1090 and higher.
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.