EURUSD seen to be pushing towards 1.1500 for now ?

The EURUSD bulls seem to be in control for now and also remain poised to push higher towards 1.1500 levels at least. After having rallied almost 200 pips from last weeks' low, EURUSD is trading above 1.1400 levels for now, very close to the trend line resistance seen on the chart here. Please note, that a push through the resistance line could be encouraging for bulls to target 1.1500 and higher. Looking at the wave structure, we maintain that an ending diagonal might have unfolded as (5) th wave of the impulse drop, that began from 1.2500 levels earlier. If this count holds to be true, we should see prices stay above 1.1172 levels going forward. An aggressive trading strategy could be to remain long from last week against 1.1210 levels and potential target as 1.1500 levels at least. A drop below 1.1172 would void the diagonal structure and indicate that further down side remains in EURUSD.


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