EURUSD keeps the structure intact, with prices reversing from just a pip away at 1.1433/34 levels on Friday, moving over a 100 pips through 1.1535 levels. During the short term bull run, it has also taken out initial resistance at 1.1527 levels. With EURUSD trading at 1.1512 levels at this point in time, one could expect a corrective drop, possibly a lower degree wave ii, before the rally resumes. Please note that bulls would remain in control, till prices stay above 1.1432 levels and the medium term wave structure remains bullish with potential towards 1.1850 levels at least.
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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.