The EURUSD finally dropped as expected and discussed earlier towards 1.1350 levels, to test fibonacci 0.618 support, before bouncing back. It is trading at 1.1380/85 levels at this point in writing, and could be preparing to push higher any time soon. Please note that immediate support could be noted as today's intraday low at 1.1342, followed by 1.1270 and 1.1213 levels, while resistance is at 1.1500 levels going forward. Looking at the higher degree wave counts, it remains intact with (A)-(B)-(C) unfolding as an expanded flat, with Wave (C) in progress at the moment. Ideally, the EURUSD should remain above 1.1213 levels if the above counts should hold to be true, and push higher towards at least 1.1800/20 levels, before reversing lower again. The medium term bullish outlook remains intact for now.
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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.