The EURUSD hourly chart is suggesting that a meaningful bottom could be in place at 1.1432 level last week and that the currency pair could be now progressing into Wave C higher. Looking at the medium term wave structure, EURUSD has remained in control of bulls since 1.1300 levels earlier. It seems to have completed Waves A and B and Wave C could proceed higher towards 1.2 or even higher in the coming weeks. At this point in time, it is retracing a bit after posting an impressive 180 pips rally in the last two trading sessions. We maintain our bullish bias against 1.1432 levels going forward.
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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.
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.