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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