EURUSD may be carving a triangle Wave 2 before pushing to 1.1500
EURUSD seems to be carving a triangle as Wave 2 since 1.1150 highs. The initial rally between 1.0636 and 1.1150 could be Wave 1 (impulse). The subsequent drop towards 1.0768 was corrective A-B-C, potential Wave 2. As per recent price action, the rally between 1.0786 and 1.0990 seems to be corrective, hence potential remains for a running flat or a triangle. Either ways, EURUSD may drift sideways but ideally hold above the 1.0768 lows. Corrective waves may be trick at times and they reveal as they unfold. Overall direction remain bullish against 1.0636.
Strategy:
Long against 1.0636, targeting 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 1.0636, targeting 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.